Qualcomm posts higher 2nd-quarter revenue but misses Street

SAN FRANCISCO, April 23 Wed Apr 23, 2014 4:07pm EDT

SAN FRANCISCO, April 23 (Reuters) - Qualcomm Inc, the leading mobile chipmaker, posted higher fiscal second-quarter revenue but missed analysts' expectations as it faces a smartphone market that is losing steam and shifting to China.

The chipmaker on Wednesday reported second-quarter revenue of $6.37 billion, up 4 percent from the year-ago period. Analysts on average had expected second-quarter revenue of $6.479 billion, according to Thomson Reuters I/B/E/S. (Reporting by Noel Randewich; Editing by Steve Orlofsky)