November 04, 2009
Qualcomm 4Q profit slips 9 percent
The Associated PressQualcomm Inc. says its fourth-quarter profit slipped 9 percent as revenue from the mobile phone technology it licenses and mobile-phone chips it makes declined.
Qualcomm, based in San Diego, said Wednesday earnings fell to $803 million, or 48 cents per share, from $878 million, or 52 cents per share, in the same period last year.
Revenue declined 19 percent to $2.7 billion from $3.3 billion in the year-ago quarter, which matched Wall Street's expectations, according to Thomson Reuters.
For the full year, Qualcomm's profit plunged 50 percent to $1.6 billion, or 95 cents per share, from $3.2 billion, or $1.90 per share in 2008.
Revenue slipped 7 percent to $10.4 billion from $11.1 billion last year, but still matched analysts' expectations.