SAN FRANCISCO (Reuters) - Qualcomm Inc posted slightly higher fiscal fourth-quarter revenue that missed analysts' expectations as the leading mobile chipmaker focused on growing demand in China for low-cost smartphones.
The chipmaker on Wednesday reported fourth-quarter revenue of $6.69 billion, up 3 percent from the year-ago period. Analysts on average had expected fourth-quarter revenue of $7.016 billion, according to Thomson Reuters I/B/E/S.
Qualcomm posted fourth-quarter net income of $1.89 billion, up 26 percent from a year ago. GAAP diluted earnings per share were $1.11. Its non-GAAP earnings were $1.26 per share.
(Reporting by Noel Randewich)