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Qualcomm loss beats market estimates

SAN DIEGO-Qualcomm Inc. said it posted a third-quarter loss of $13.7 million, although it beat the market expectation.

The company’s earnings took a beating from its charges, which amounted to $194 million. Excluding one-time items, Qualcomm posted a profit of $193.5 million or 24 cents per share. It enjoyed a 17-percent revenue rise to $771 million as against $657 million in the period last year.

“The financial markets for telecommunications investments, in general, have been very unfavorable for some time, but particularly in the most recent fiscal quarter,” said the company in a statement.

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