Qualcomm Posts Q1 Revenue of $6.12 Billion, up 24% YoY

Qualcomm reported Q1 revenue of $6.12 billion, up 24 percent year-over-year  and 2 percent sequentially.  Net income was $1.87 billion, down 16 percent YoY and 2 percent sequentially.  Diluted earnings per share were $1.06, down 17 percent YoY and 3 percent sequentially.

During the quarter, MSM chip shipments reached 173 million units, up 14 percent YoY and down 5 percent sequentially.

"We delivered another strong quarter as the worldwide adoption of smartphones continues,” saidDr. Paul E. Jacobs, chairman and CEO of Qualcomm. “Looking forward, we are seeing strong traction with our new Qualcomm Snapdragon 600 and 800 processors, and we continue to expect healthy growth in 3G and 3G/4G multimode devices around the world. We are pleased to be raising our calendar 2013 3G/4G device shipment estimates and our revenue and earnings guidance for fiscal 2013.”

http://www.qualcomm.com