Qualcomm Revenues and Profits Up by a Third

Qualcomm has announced that its third fiscal quarter revenues rose by more than a third to US$6.24 billion, boosted by increased smartphone chip shipments.

Net profit was also up, by 31% to US$1.58 billion. R&D expenses increased 36 percent primarily due to an increase in costs to develop CDMA-based 3G, OFDMA-based LTE and other technologies for integrated circuit and related software products.

“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.

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

Cash, cash equivalents and marketable securities totaled $30.4 billion at the end of the third quarter of fiscal 2013, compared to $26.5 billion a year ago.