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Thursday, April 21, 2011

Qualcomm quarterly results show revenue up 46 per cent

Qualcomm Incorporated has announced its quarterly results for the three-month period until 27th March 2011.

Revenue was $3.88 billion (£2.34 billion), up 46% year-on-year and up 16% on the previous quarter. Operating income was $1.07 billion, up 38% year-on-year but down 3% on the previous quarter. And net income was up 29% year-on-year to $999 million, which was a 15% drop on the previous quarter.

Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “We are pleased to report record quarterly revenues, and we are raising our revenue and earnings guidance for the year as the demand for smartphones across an array of geographies and tiers continues to grow. In addition, we have resolved the second of the two previously disclosed licensee disputes. We continue to execute on our strategic priorities as our partners deploy our technologies and solutions to offer leading wireless products and services to consumers worldwide.”

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Author: The Fonecast
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