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Sunday, November 7, 2010

Qualcomm reveals quarterly results with revenue up 10%

Qualcomm has announced quarterly results for the period ending 26th September 2010; the fourth quarter of its financial year.

Quarterly revenue was up 10% year-on-year and up 9% on the previous quarter to $2.95 billion (£1.82 billion). Operating income was up 40% year-on-year to $837 million and net income was up 8% year-on-year to $865 million.

It means revenue for the financial year was almost $11 billion (up 6%), with operating income of $3.28 billion (up 47%) and net income of $3.25 billion (up 104%).

Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “I am very pleased with our performance this year as we delivered record earnings per share and record MSM chipset volumes. Our outlook includes strong revenue and earnings growth in fiscal 2011. In the coming year, we expect continued strong growth in CDMA-based device shipments, including smartphones and other data-centric devices, driven by the global adoption of 3G and accelerating consumer demand for wireless data. With our industry-leading chipset roadmap, broad licensing program and increasing number of global partners, we are well positioned to take advantage of these industry trends.”

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Author: The Fonecast
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