Qualcomm Posts Revenue of $2.7 Billion, Sees Healthy 3G Demand

Qualcomm reported quarterly revenue of $2.66 billion, compared to $2.46 billion in the prior year and $2.67 billion in the prior quarter. Operating income came in at $776 million, compared to an operating loss of $10 million in the prior year and operating income of $879 million in the prior quarter. Diluted earnings per share were $0.46, compared to a diluted loss per share of $0.18 in the prior year* and diluted earnings per share of $0.50 in the prior quarter.


"We delivered strong financial results this quarter, driven by healthy 3G device shipments and greater than expected demand for our chipsets. 3G subscribers have now surpassed 1 billion worldwide and with the 3G auction process underway in India, the 3G footprint continues to expand globally," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "Calendar year 2010 3G device shipments are progressing in line with our expectations, and although we're continuing to operate in a competitive chipset pricing environment, we're positioned to continue to grow share through new partner engagements and our broad, industry-leading 3G chipset roadmap. Our business is executing well and we are pleased to be raising our earnings guidance for the fiscal year."
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