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Qualcomm (QCOM) Stock Rises in After-Hours Trading on Q4 Beat

NEW YORK (TheStreet) -- Shares of Qualcomm (QCOM) were increasing in after-hours trading on Wednesday as the chipmaker reported stronger-than-expected results for the 2016 fourth quarter and gave guidance for the 2017 fiscal first quarter.

After today's market close, Qualcomm posted adjusted earnings of $1.28 per share, beating Wall Street's expected $1.13 per share.

Revenue rose 7% year-over-year to $6.20 billion, which surpassed analysts' projections of $5.86 billion.

During the same quarter last year, San Diego-based Qualcomm earned 91 cents per...