Qualcomm Posts Another Strong Quarter

Qualcomm posted quarterly revenue of $6.24 billion, up 35 percent year-over-year and 2 percent sequentially.  Operating income: 1 $1.68 billion, up 21 percent y-o-y and down 11 percent sequentially.

During the quarter, Qualcomm's MSM chip shipments reached 172 million units, up 22 percent y-o-y and down 1 percent sequentially.  March quarter total reported device sales were approximately $56.5 billion, up 18 percent y-o-y and down 8 percent sequentially.  March quarter estimated 3G/4G device shipments reached approximately 244 to 248 million units, at an estimated average selling price of approximately $227 to $233 per unit.

"We delivered another strong quarter as our Qualcomm Snapdragon solutions were prominent in a broad set of flagship smartphones, and 3G/4G device average selling prices were stronger than expected. We also focused on return of capital to stockholders and increased our stock repurchases and dividends paid during the quarter," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "This quarter, we continued our technology leadership, with our Snapdragon 800 processor powering the world's first LTE-Advanced smartphone. We see expanding opportunities for growth of 3G/4G devices around the globe, driven by the strong pace of innovation in the industry."

http://www.qualcomm.com