Qualcomm Reports Record Quarterly Results
Qualcomm has reported a record quarter in its financial results, with revenues up by nearly 10 percent, and net profit jumping by 42 percent.
Revenues came in at USD6.8 billion for the three months to the end of June, while net profit was up by 42% at USD2.24 billion. In terms of chip shipments, these came in at 225 million units, a rise of 31 percent over the previous year. The company ended the period with USD32.7 billion of cash in the bank.
Qualcomm confirmed that it is still facing an investigation in China over its pricing policies, but also indicated that it is in dispute over payments with one unnamed licensee, and that others may have been under-reporting their sales volumes back to Qualcomm for technology licensing rights.
In related news, the company announced a USD150 million investment fund targeting Chinese firms.