SAN DIEGO-Qualcomm Inc. reported a third-quarter net income of $192 million, a 20-percent increase from a year ago, indicating the company’s robust business in a time of downdraft.
At the same time last year, the company was burdened with a loss of $14 million. Its third-quarter earnings per share were 23 cents compared with a loss of 2 cents per share a year ago.
“Our business generates excellent positive cash flows at the same time revenues and earnings continue to grow,” said Irwin Jacobs, chairman and chief executive officer of Qualcomm.
Ahead of the quarterly report, the CDMA chipmaker approved a 40-percent increase in cash dividends for its shareholders.
