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Qualcomm 4Q profit rises 8 pct, beats Street

Qualcomm 4Q profit rises 8 pct, beats Street

Qualcomm Inc., the developer of chips and technology for cell phones, says results for the latest quarter blew past expectations on strong sales of components for smart phones.
The San Diego-based company says it expects earnings well above expectations in the new quarter as well.
Qualcomm said Wednesday that it earned $865 million, or 53 cents per share, in its fourth fiscal quarter, which ended in September. That's up 8 percent from $803 million, or 48 cents per share, in the same period last year.
Excluding some investment results, share-based compensation and some tax effects, Qualcomm earned 68 cents a share, well above the 59 cents estimated by analysts polled by Thomson Reuters.
Revenue rose 10 percent to $2.95 billion. Analysts were expecting $2.85 billion.