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Thursday, February 2, 2012

Qualcomm reports record quarterly results

Qualcomm Incorporated has announced record results for the first quarter of its 2012 financial year, which is the three-month period that ended on 25th December 2011.

Revenue was up 40% year-on-year to $4.68 billion (£2.96 billion) and net income was up 20% to $1.40 billion.

Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “I am pleased to report another record quarter with revenues, earnings and MSM [mobile station modem chipset] shipments reaching all-time highs, driven by our industry-leading chipset portfolio and the continued strong demand for smartphones around the world. We are raising our revenue and earnings guidance as our broad licensing partnerships and extensive chipset roadmap, led by our integrated Snapdragon processors, position us well for strong growth in fiscal 2012. We continue to invest in innovative wireless technologies, products and services, and we are excited about the opportunities ahead as 3G and 4G continue to expand across new device types and geographies.”

Around 156 million MSM chipsets were shipped in the quarter, up 32% year-on-year and up 23% on the previous quarter. In total, it’s estimated that Qualcomm’s 3G and 4G technology was used in between 191 and 195 million new handsets, modules, modem cards and other customer devices  during the quarter.

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