Qualcomm Reports Higher Fiscal 1Q Profit

Qualcomm Inc. said its fiscal first-quarter net income rose 20% to $1.4 billion, or 81 cents per share, from $1.2 billion, or 71 cents, a year ago.

Revenue increased 40% to $4.7 billion for the quarter ended Dec. 25, the maker of trucking communication devices and wireless chips said in a statement.

The company said it shipped 156 million units of its CDMA-based mobile station modem devices in the quarter, up 32% from a year ago.