Qualcomm Sees Continued Gains in Smartphones, Sales Up 39% YoY

Qualcomm reported quarterly sales of $4.12 billion, up 39 percent year-over-year (y-o-y) and 14 percent sequentially, Net income was$1.06 billion, up 22 percent y-o-y and 2 percent sequentially.


During the quarter, CDMA-based Mobile Station Modem (MSM) shipments reached 127 million units, up 14 percent y-o-y and 6 percent sequentially.


The company currently holds $20.9 billion in cash, up from $18.4 billion a year ago.


“I am very pleased with our performance this year as we delivered record revenues, earnings and MSM chipset shipments, driven by the popularity of smartphones, continued adoption of 3G technologies, particularly in emerging regions, and our industry-leading patent portfolio,�? said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. “The breadth and depth of our chipset roadmap, extensive licensing program and diverse set of global partnerships position us well for strong revenue and earnings growth in fiscal 2012. We are excited about the upcoming commercial launch of our groundbreaking Snapdragon multimode LTE solution and continue to invest in and execute on our strategic priorities to drive profitable growth.�?http://