Technology company Qualcomm Incorporated has announced results for the fourth quarter of its financial year, along with full-year results.
Quarterly revenue was up 18% year-on-year to $4.87 billion, while net income was up 20% year-on-year to $1.27 billion. For the full financial year, revenue was $19.12 billion (up 28%) and net income was $6.11 billion (up 43%).
Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “I am very pleased with our performance this year. We delivered record revenues, earnings and MSM chipset shipments driven by increasing global consumption of wireless data across a diverse range of devices, particularly smartphones. As we continue to invest in and execute on our strategic priorities, our broad licensing program and industry-leading Snapdragon and 3G/LTE chipset roadmap position us for double-digit revenue growth again in fiscal 2013.”
Around 905 million Qualcomm chips are expected to be used in 3G and 4G devices this year, which would be about 14% up from 2011.