Chip maker Qualcomm Inc. delayed the release of its fiscal third-quarter results Wednesday after a Delaware judge postponed the start of a trial pitting the company against mobile handset maker Nokia Corp. in a dispute over licensing fees.
Qualcomm gave no explanation for rescheduling its conference call to discuss the results to Thursday morning before markets open. The company had been scheduled to release its results after markets closed Wednesday.
The delay sent its shares soaring $4.10, or 9.2 percent, to $48.92 after hours. During regular trading, its shares rose 1.6 percent, or 72 cents, to $44.82 on the Nasdaq Stock Market.
The trial was scheduled to begin Wednesday morning but was delayed for several hours because of technical difficulties in establishing a Webcast feed. Vice-chancellor Leo Strine later decided to postpone the start of the trial until Thursday morning. The reason for the postponement was not immediately clear.
The Delaware lawsuit is part of a multinational legal battle between the two companies, who disagree on whether Nokia owes Qualcomm royalty payments for use of certain wireless technology patents.
San Diego-based Qualcomm contends that Nokia, a Finnish company that is the world’s largest mobile phone maker, owes it royalties under a 2001 licensing agreement.
Nokia claims that it has paid more than $1 billion to Qualcomm and has satisfied its obligations, and that the patent licensing deal has expired.
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