Wireless technology business Qualcomm Incorporated has announced results for the second quarter of its current financial year. Revenue was up 28% year-on-year to $4.94 billion (£3.08 billion), while net income was up 123% year-on-year to $2.23 billion.
Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “I am pleased to report another quarter of record revenues and earnings per share, driven by strong demand for 3G- and 4G-enabled devices across both developed and emerging regions. We are excited to see the continued growth of 3G and 4G smartphones, as well as new mobile computing devices. We are increasing our operating expenses to facilitate additional 28 nanometer supply and to continue to position our industry-leading chipset solutions for the opportunities ahead.”
The company currently estimates that around 915 million Qualcomm-equipped 3G and 4G devices will be sold this year, a 15% increase on 2011.