Qualcomm’s Income Rises for Third Fiscal Quarter

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ireless-services provider Qualcomm Inc. reported net income for its third fiscal quarter ended June 25 rose 15% to $643 million or 37 cents a share from the previous third quarter.

Revenue jumped 44% to $1.95 billion, Qualcomm said Wednesday.

Qualcomm said its fourth-quarter revenue would be between $1.88 billion and $1.98 billion, with earnings between 39 and 41 cents a share.

That projection was below analysts’ forecasts of fourth-quarter revenue of $1.99 billion and earnings of 42 cents a share, Reuters reported.

The company’s Qualcomm Wireless Business Solutions unit shipped about 10,700 satellite-based systems in the quarter, including its OmniTracs and TruckMail systems for mobile in-cab communications. That compared with 13,800 units a year earlier and 8,200 in the second fiscal quarter.

QWBS shipped about 5,500 terrestrial-based systems, including OmniExpress, GlobalTracs and T2 Untethered TrailerTracs for tracking trailers, compared with 19,600 a year earlier and 8,000 in the second quarter.