UPDATE 1-Qualcomm's quarterly revenue guidance misses estimates

Noel Randewich
Wednesday, 6 Nov 2013 | 4:17 PM ET

SAN FRANCISCO, Nov 6 (Reuters) - Leading mobile chipmaker Qualcomm Inc on Wednesday posted higher fiscal fourth quarter results, fueled by growing demand for smartphones in Asia, but its shares fell after it gave quarterly revenue guidance below expectations.

The chipmaker posted fiscal fourth-quarter revenue of $6.48 billion, up 33 percent from the year-ago quarter.

It had net income of $1.50 billion, up 18 percent.

GAAP diluted earnings per share were 86 cents.

It said revenue in the fiscal first quarter, which ends in December, would range from $6.3 billion to $6.9 billion.

Analysts on average had expected fourth-quarter revenue of $6.346 billion and first-quarter revenue of $6.989 billion, according to Thomson Reuters I/B/E/S.

Qualcomm shares fell 4.92 percent in extended trading after closing up 1.06 percent at $69.74 on Nasdaq.

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