SAN DIEGO (CNS) - San Diego-based Qualcomm Inc. Wednesday reported net income of $1.21 billion in the third quarter of its fiscal year, up 17 percent from the same period one year ago.
That equates to 69 cents per diluted share for the maker of computer chips inside cell phones and other wireless devices.
The company reported revenues of $4.63 billion, up 28 percent over the same time last year.
"Adoption of 3G and 3G/4G technologies continues around the world, driving strong year-over-year growth in our chipset and licensing businesses this quarter," said Chairman and CEO Paul Jacobs.
He said the company has slightly lowered its expectations for growth in the fourth quarter, however. Qualcomm projects revenue in the final three months of the fiscal year to be between $4.45 billion and $4.85 billion.
For the first nine months of the current fiscal year, net income was $4.9 billion, up 22 percent over the first three quarters of last year, with earnings per diluted share of $2.83, according to Qualcomm.
A gas line break in downtown has prompted area businesses to evacuate. The break was reported around 1 p.m. and is located near Fifth Avenue and E Street.
One week ago as diners packed restaurants in a Kearny Mesa a shooting broke out in the parking lot of a strip mall on Convoy Street.
Skies across San Diego County are mostly clear and will stay that way through the early Saturday. This will result in another night of tumbling temps into early Saturday morning.
The first phase of the city of San Diego's ordinance banning polystyrene foam and single-use plastics will go into effect on Saturday.
A pothole here. A pothole there. The City of San Diego says it has seen a spike in reports of potholes due to recent winter storms.
Hundreds of San Diego State students are dancing the night away Friday as part of a 15-hour dance marathon which will end Saturday morning.
The owner of an Ocean Beach sandwich shop is sharing surveillance video of a man he says stole the employees tip jar.
The National Weather Service on has issued a frost advisory from 10 p.m., Friday to 9 a.m., Saturday for the inland valleys of San Diego.