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Business Briefing / Earnings

Qualcomm profit declines slightly

July 23, 2009|Times Wire Reports

Qualcomm Inc. posted a slight decrease in its third-quarter profit, although Chief Executive Paul Jacobs said the chip maker had a strong quarter and healthy demand.

For the March-to-June period, San Diego-based Qualcomm earned $737 million, or 44 cents a share, down 1.5% from $748 million, or 45 cents, a year earlier.

Adjusted earnings were 54 cents a share, slightly ahead of Wall Street's expectations.

Revenue edged lower to $2.75 billion from $2.76 billion.

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