On Wednesday, Qualcomm Incorporated (Nasdaq: QCOM) -- developer and innovator of advanced wireless technologies, products and services -- reported its third Quarter Fiscal 2009 Results.

Qualcomm reported earnings of $737 million reflecting $0.44 cents per share a 1.5 percent decrease compare to last year period of $748 million reflecting $0.45 cents per share.

Revenue edged lower to $2.75 billion from $2.76 billion in the prior year and $2.46 billion in the prior quarter.

Our financial results reflect a record quarter for MSM chipset shipments, strong licensing and royalty revenues based on healthy end market demand in the March quarter and a 5 percent year-over-year reduction in combined R&D and SG&A expenses,” said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm.

Qualcomm foresee strong quarter on its chipset shipments in the fourth fiscal quarter and raised its fiscal 2009 revenue forecast.