QUALCOMM EXCEEDS EXPECTATIONS ON GLOBAL 3G GROWTH
On Wednesday, Qualcomm reported UD2.71 billion in revenues for its third quarter, a two-percent decline over the corresponding period the previous year but ahead of analyst expectations of USD2.63 billion. Profit was USD767 million, up four percent from a year ago. “We are at a transformative stage in the industry as people increasingly use their 3G devices to stay connected,” CEO Paul Jacobs said. Jacobs said he expects to see a 23-percent increase in CDMA subscribers this year.
C&WC FACES REVOLT OVER PAY FOR EXECUTIVES
FT writes that 21.1 percent of the votes cast by shareholders at C&WC’s annual meeting went against the remuneration report, which includes plans to raise the salary of CEO Tony Rice by 17 percent to USD1.1 million (GBP726,000) in 2010-11.
INVESTOR GROUP CALLS FOR VODAFONE BOARD SHAKE-UP
FT writes that the Ontario Teachers’ Pension Plan, which has a 0.42-percent stake in Vodafone, will vote against the reelection of chairman Sir John Bond and deputy chairman John Buchanan at its annual meeting on Tuesday due to the UK operator’s “strategic weaknesses” and “disastrous” acquisition record.
On Wednesday, Qualcomm reported UD2.71 billion in revenues for its third quarter, a two-percent decline over the corresponding period the previous year but ahead of analyst expectations of USD2.63 billion. Profit was USD767 million, up four percent from a year ago. “We are at a transformative stage in the industry as people increasingly use their 3G devices to stay connected,” CEO Paul Jacobs said. Jacobs said he expects to see a 23-percent increase in CDMA subscribers this year.
C&WC FACES REVOLT OVER PAY FOR EXECUTIVES
FT writes that 21.1 percent of the votes cast by shareholders at C&WC’s annual meeting went against the remuneration report, which includes plans to raise the salary of CEO Tony Rice by 17 percent to USD1.1 million (GBP726,000) in 2010-11.
INVESTOR GROUP CALLS FOR VODAFONE BOARD SHAKE-UP
FT writes that the Ontario Teachers’ Pension Plan, which has a 0.42-percent stake in Vodafone, will vote against the reelection of chairman Sir John Bond and deputy chairman John Buchanan at its annual meeting on Tuesday due to the UK operator’s “strategic weaknesses” and “disastrous” acquisition record.
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