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Thursday, July 21, 2011

Qualcomm quarterly results show revenue and profit up from last year

Chip designer and technology developer Qualcomm Incorporated has announced results for the third quarter of its current financial year. The figures, for the three months ending 26th June 2011, showed revenue up 34% year-on-year to $3.62 billion (£2.22 billion). Net quarterly income was up 35% from 2010 to $1.04 billion.

An estimated 775 million Qualcomm devices are expected to be shipped in 2011.

Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “Qualcomm delivered strong year-over-year results again this quarter as our business performed well across all key guidance metrics. In addition, we successfully completed the acquisition of Atheros, positioning us to further expand our opportunities going forward. Looking forward, we continue to see healthy growth in CDMA-based device shipments of approximately 18 percent in calendar year 2011, and we are pleased to be raising our revenue and Non-GAAP earnings guidance for the fiscal year, driven primarily by strong global smartphone adoption and the addition of Atheros.”

Author: The Fonecast
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Tags: qualcomm

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