Qualcomm posted record quarterly revenue of $6.62 billion for its first quarter of fiscal 2014, up 10 percent year-over-year (y-o-y) and 2 percent sequentially. Net income came in at $1.88 billion, down 2 percent y-o-y and up 25 percent sequentially.
“We are pleased with the start to our fiscal year, with record results in quarterly revenues, device sales reported by licensees and MSM chip shipments,” said Dr. Paul E. Jacobs, Chairman and CEO of Qualcomm. “Looking forward, we expect our performance to reflect the continued strong global growth of smartphones, our chipset leadership position and our competitive strengths in 3G/4G technologies and products.”
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