Qualcomm revenue edges above Wall Street estimates

Qualcomm Inc., Chairman and CEO Dr. Paul E. Jacobs
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Leading mobile chipmaker Qualcomm posted fiscal fourth-quarter revenue of $6.48 billion and net income of $1.5 billion, or 86 cents a share, fueled by growing demand for smartphones in Asia, where competition is increasing.

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