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Business Briefing / Earnings

Qualcomm sees earnings fall 9%

November 05, 2009|Times Wire Reports

Qualcomm Inc. says fourth-quarter profit slipped 9% as revenue from the mobile phone technology it licenses and mobile phone chips it makes fell.

Qualcomm said earnings fell to $803 million, or 48 cents a share, from $878 million, or 52 cents, a year earlier. Revenue fell 19% to $2.7 billion, which matched Wall Street's expectations, according to Thomson Reuters.

Qualcomm shares fell 62 cents to close at $41.60. The shares rose to $42.10 in after-hours trading after the release of earnings.

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