Snapdragon chips demand helps Qualcomm top estimates

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(Reuters) – Smartphone chipmaker Qualcomm Inc reported a better-than-expected profit and revenue for the fourth quarter, boosted by demand for its Snapdragon mobile chips.

FILE PHOTO: One of many Qualcomm buildings is shown in San Diego, California, U.S. on November 3, 2015. REUTERS/Mike Blake/File Photo

Revenue from its Qualcomm CDMA Technologies (QCT) unit, which includes its chip business that supplies both Android smartphone makers and Apple, rose 13 percent to $4.65 billion.

“We continue to see strong growth trends for global 3G/4G device shipments,” Chief Executive Steve Mollenkopf said.

In contrast, revenue from Qualcomm’s licensing business fell 36 percent to $1.21 billion in the quarter ended Sept. 24.

Net income attributable to the company fell to $168 million, or 11 cents per share, from $1.60 billion, or $1.07 per share, a year earlier. (

The latest quarter included a charge of $778 million, or 52 cents per share, for the fine imposed by the Taiwan Fair Trade Commission for anti-trust violations of its chip technology.

Excluding items, Qualcomm earned 92 cents per share, beating analysts estimates of 81 cents, according to Thomson Reuters I/B/E/S.

Revenue fell 4.5 percent to $5.91 billion, but came in ahead of analysts estimate of $5.80 billion.

Qualcomm shares, down 18 percent this year, were little changed in trading after the bell on Wednesday.

Reporting by Sonam Rai in Bengaluru; Editing by Savio D’Souza

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