Tuesday, April 19, 2011

Qualcomm Posts Record Revenues of $3.9 Billion

Qualcomm reported record quarterly revenues of $3.88 billion, up 46% YoY and 16% sequentially. Prior guidance called for $3.45 - $3.75 billion in quarterly revenue.

Operating income was $1.07 billion, up 38% YoY and down 3% sequentially. Net income was $999 million, up 29% YoY and down 15% sequentially.

"We are pleased to report record quarterly revenues, and we are raising our revenue and earnings guidance for the year as the demand for smartphones across an array of geographies and tiers continues to grow," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "In addition, we have resolved the second of the two previously disclosed licensee disputes. We continue to execute on our strategic priorities as our partners deploy our technologies and solutions to offer leading wireless products and services to consumers worldwide."http://www.qualcomm.com