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Qualcomm's second-quarter profit up 6 pct on strong sales
posted 5:23 pm Wed April 23, 2008 - SAN DIEGO
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Chip maker Qualcomm Inc. says its fiscal second-quarter profit rose 5.5 percent as consumers bought mobile phones that surf the Internet and offer speedy downloads of music and video.The company is reporting Wednesday that it earned $766 million, or 47 cents a share, during the three-month period ending March 30, up from $726 million, or 43 cents a share, in the same period a year earlier. The latest period includes charges of 5 cents a share for stock-based compensation and a loss of 2 cents per share for its strategic investment unit. Excluding those charges, Qualcomm earned 54 cents a share, above the average estimate of 52 cents a share among analysts surveyed by Thomson Financial.
Revenue rose 17.3 percent to $2.61 billion from $2.22 billion, above the average analyst estimate of $2.5 billion.
Revenue rose 17.3 percent to $2.61 billion from $2.22 billion, above the average analyst estimate of $2.5 billion.
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