SAN DIEGO – Qualcomm Inc. reported third-quarter sales fell 3% from last year to $2.75 billion. Despite the slight drop for the quarter, sales rose 12% sequentially from $2.46 billion.
 
For the quarter ended June 28, net income slipped 1.5% to  $737 million, compared to $748 million last year. The company reversed its second-quarter loss of $289 million that included a $748 million litigation settlement charge with Broadcom Corp.
 
“Our revenues were at the high end of our prior guidance, and our operating income exceeded our prior guidance,” says Dr. Paul Jacobs, chairman and CEO.
 
Although the company showed a quarter-on-quarter improvement, it is remaining cautious. Fourth-quarter revenues are forecast between $2.55 billion and $2.75 billion, and full-year revenue is expected at $10.25 billion to $10.45 billion.