Cambridge based wireless chip maker CSR yesterday made public its third quarter report which revealed revenue which stood at the upper end of the estimates posted. In light of the positive developments, shares of the giant chip manufacturer rose as much as 8%.

For the July-September period for the year, CSR reported revenue of $210 Million, which is 2% up by the revenue reported for the same period last year. Although the profit figures dropped to $10.7 Million this year from last year's 30.8 Million, earnings per share, which now stood at 5 cents, did see an improvement from last quarter's losses of 22 cents.

CSR, which is the chip supplier to leading mobile handset manufacturers like Nokia, said customers are still cautious about spending money and thus sales all over have been hurt. The company itself has been hit by the drop in orders from cell phone manufacturers.

CSR Chief Executive, happy with the firm's output in the current times of the economic downturn, said, "The underlying business is looking very strong, with design wins gaining momentum". CSR is now looking at a much improved performance in the coming year and quarters.