Qualcomm reports improvement in profits for the most recent quarter

Qualcomm reports improvement in profits for the most recent quarter

Wireless technology and chip supplier Qualcomm has come out with their quarterly reports and the company has posted a 14 percent improvement in profits. Qualcomm gained from improved demand for their cell phone chips.

The earnings of the company were also slightly better than analysts’ estimates for the fiscal fourth quarter.

Charter Equity Research analyst Ed Snyder spoke on Qualcomm’s result: “The stock might be a little bit weak because the top end of the guidance for the December period just reaches what the street was expecting.”

The company reported net profits of $614 million, or 36 cents per share. The revenue was up 28 percent to $2 billion.