NEW YORK (Reuters) - Mobile phone chip and technology supplier Qualcomm Inc (QCOM.O) on Wednesday posted a profit for its fiscal third quarter and revenue rose amid increasing demand for phones with high-speed Web links.
The company, which also announced a legal settlement with Nokia (NOK1V.HE) on Wednesday, said its net profit was 748 million, or 45 cents a share for the quarter ended June 29, down 6 percent from the year-ago quarter. Before items such as its investment arm, Qualcomm said it earned 55 cents a share.
Revenue rose 19 percent to 2.8 billion from the year-ago quarter. In June, Qualcomm forecast pro forma earnings per share of 54 cents to 55 cents on revenue of more than 2.7 billion.
(Reporting by Sinead Carew, editing by Phil Berlowitz, Gary Hill)
The company, which also announced a legal settlement with Nokia (NOK1V.HE) on Wednesday, said its net profit was 748 million, or 45 cents a share for the quarter ended June 29, down 6 percent from the year-ago quarter. Before items such as its investment arm, Qualcomm said it earned 55 cents a share.
Revenue rose 19 percent to 2.8 billion from the year-ago quarter. In June, Qualcomm forecast pro forma earnings per share of 54 cents to 55 cents on revenue of more than 2.7 billion.
(Reporting by Sinead Carew, editing by Phil Berlowitz, Gary Hill)
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