Qualcomm quarterly profit falls

Qualcomm Inc. posted mixed results for its fiscal fourth quarter and full year, with sales and profit weighed down by a maturing smartphone market.

The San Diego wireless technology giant shipped more mobile chips than expected in the fourth quarter, but struggled to sign new technology licensing agreements with phone makers in China — one of Qualcomm’s most important markets.

In the quarter, Qualcomm said it earned $1.1 billion, or 67 cents per share, on $5.5 billion in revenue. A year ago the company earned $1.9 billion, or $1.11 per share, on sales of $6.7 billion.

For the year ending Sept. 27, the company reported earnings of $5.3 billion, or $3.22 a share, on revenue of $25.3 billion. That’s down from $8 billion, or $4.65 a share, on revenue of $26.5 billion in 2014.