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Thursday, November 3, 2011

Qualcomm quarterly results show profit increase

Qualcomm, one of the leading producers of chipsets used in mobile phones, has announced results for the fourth quarter of its financial year.

Revenue was up 39% year-on-year and 14% on the previous quarter to $4.12 billion (£2.57 billion), while net income was up 22% year-on-year (and 2% sequentially) to $1.06 billion.

Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “I am very pleased with our performance this year as we delivered record revenues, earnings and MSM chipset shipments, driven by the popularity of smartphones, continued adoption of 3G technologies, particularly in emerging regions, and our industry-leading patent portfolio. The breadth and depth of our chipset roadmap, extensive licensing program and diverse set of global partnerships position us well for strong revenue and earnings growth in fiscal 2012. We are excited about the upcoming commercial launch of our groundbreaking Snapdragon multimode LTE solution and continue to invest in and execute on our strategic priorities to drive profitable growth.”

Overall, these quarterly results have helped Qualcomm achieve a 36% annual increase in revenue to $14.96 billion and an 31% increase in net income to $4.26 billion.

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Author: The Fonecast
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