Shares of Qualcomm (QCOM) rose 8% in after hours trading on Wednesday. The developer and innovator of advanced wireless technologies reported its fourth quarter results for its fiscal 2012 after the close.
Fourth Quarter Results
Qualcomm reported fourth quarter revenues of $4.87 billion, up 18% on the year. Revenues surpassed analysts consensus of $4.65 billion. During the quarter, the company shipped 141 million MSM chips, up 11% on the year.
The company reported an operating income of $1.24 billion, unchanged on the year. Net income rose 20% on the year to $1.27 billion, with diluted earnings per share rising 18% to $0.73 per share.
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