Qualcomm’s Truck Unit Posts Quarterly Loss

Wireless technology firm Qualcomm Inc.’s profit in its fiscal third quarter jumped 31% from a year earlier, but the business segment that includes its trucking technology offerings posted a loss for the quarter.

Qualcomm’s net income for the quarter ended June 30 climbed to $1.58 billion, or 90 cents per share, from $1.21 billion, or 69 cents, while revenue rose 35% to $6.24 billion.

Omnitracs Inc., the Qualcomm subsidiary that provides technologies for the trucking industry, is part of Qualcomm’s Wireless & Internet segment, or QWI.

The QWI segment posted a quarterly loss of $16 million before tax, compared with a loss of $6 million in the same quarter last year. QWI revenue slipped 1% to $158 million.