Strong demand lifts Qualcomm
From Times Wire Services
Chip maker Qualcomm Inc. posted an 18% increase in fiscal first-quarter profit on strong demand for cellphones that surf the Internet and download music and video.
San Diego-based Qualcomm earned $767 million, or 46 cents a share, during three months ended Dec. 30, up from $648 million, or 38 cents, the same period last year.
The latest quarter included per-share charges of 1 cent from its strategic investments unit and 5 cents for stock-based compensation.
