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Thursday, January 27, 2011

Record Q1 figures for Qualcomm

Mobile technology company Qualcomm has announced record figures for the first quarter of its 2011 financial year.

Revenue was up 25% year-on-year to $3.35 billion (£2.1 billion), while net income was up 39% year-on-year for the quarter to $1.17 billion.

Dr Paul E Jacobs, chairman and CEO of Qualcomm, said “We are very pleased to report record revenues, earnings per share and MSM chipset shipments this quarter driven by increased demand for smartphones and data-centric devices across an expanding number of regions and price points. In addition, we have resolved one of our previously disclosed licensee disputes, which will be reflected beginning with the second fiscal quarter results. We continue to execute on our strategic objectives as our partners leverage our technologies and solutions to offer leading wireless products and services to consumers around the globe. We believe we are uniquely positioned to benefit from these industry trends and are substantially raising our revenue and earnings guidance for the fiscal year.”

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