qualcomm inc reported record quarterly revenue including a second straight quarter of record results for the chip business firstquarter profit rose to 34 billion from 246 billion a year earlier on a pershare basis profit was 298 or 323 as adjusted revenue rose to 1071 billion or 107 billion as adjusted from 824 billion and 823 billion respectively a year earlier analysts surveyed by factset expected a profit of 271 a share or 301 a share as adjusted and 1044 billion in adjusted revenue in november when it reported fourthquarter results qualcomm projected fistquarter profit of 253 to 273 a share or 290 to 310 a share as adjusted and 10 billion to 108 billion in revenue