Wireless technology company Qualcomm Inc. reported net income of $513 million on revenue of $1.39 billion for the first quarter of fiscal 2005, which ended Dec. 26.
In the year-ago quarter, the company reported net income of $352 million on revenue of $1.2 billion.
Qualcomm released earnings and guidance Jan. 19 after the stock market closed. Shares, which had closed at $41.07, fell in after-hours trading to $38.36. The company’s Nasdaq symbol is QCOM.
The company makes microchips for wireless telecommunications and receives license and royalty income from its extensive patent portfolio.