Qualcomm Reports Revenues $2.7 Billion, Record MSM Shipment

Qualcomm reported quarterly revenue of $2.71 billion, down 2 percent year-over-year and up 2 percent sequentially. Net income was $767 million, up 4 percent year-over-year and down 1 percent sequentially.


CDMA-based Mobile Station Modem (MSM) shipments were approximately 103 million units, up 10 percent year-over-year and 11 percent sequentially.


"Our financial performance this quarter exceeded our prior expectations, driven by record MSM chipset shipments, favorable product mix and continued strong demand for 3G devices around the world," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "Looking forward, we continue to see healthy CDMA-based device growth of approximately 23 percent in calendar year 2010, and are raising both our revenue and earnings guidance for the fiscal year."http://www.qualcomm.com