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Thursday, July 19, 2012

Qualcomm publishes quarterly results

Wireless technology company Qualcomm Incorporated has announced financial results for the third quarter of its current financial year. The figures, which cover the three months until 24th June 2012, show revenue and profit up year-on-year but down from the previous quarter. Sales of devices with Qualcomm chips were slower than expected, although they’re expected to pick up towards Christmas.

Revenue reached $4.63 billion (£2.96 billion), up 28% from the same quarter in 2011 but down 6% sequentially. Net income of $1.21 billion was up 17% year-on-year but down 46% sequentially.

Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “Adoption of 3G and 3G/4G technologies continues around the world, driving strong year-over-year growth in our chipset and licensing businesses this quarter. Looking forward, our growth estimates for 3G/4G device shipments in calendar 2012 have moderated slightly, and we now expect the demand profile of the calendar year to be more back-end loaded as new devices are launched for the holiday season. Although our outlook for semiconductor volumes in the fiscal fourth quarter has been reduced from our prior expectations, we are ramping supply of our 28 nanometer chipsets to help enable what we expect to be a strong December quarter for our semiconductor business.”

Between 206 million and 211 million 3G/4G mobile devices with Qualcomm chips were shipped during the quarter.

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