Chip maker Qualcomm (QCOM) shares were up more than 2% after-hours Wednesday after the company reported earnings of $1.34 per share on revenue of $5.99 billion. Analysts on average were expecting the company to report earnings of $1.19 per share on revenue of $5.89 billion.
Qualcomm is in the midst of two different lawsuits over high patent fees, including a $1 billion claim against it by Apple (AAPL) , which the company supplies. Qualcomm has responded to Apple by filing a counter suit against the company for breaching its agreements.
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