Qualcomm Revenues Up by a Third on Higher Chip Shipments

Qualcomm has reported a one-third rise in its fourth-quarter revenues, and nearly the same for its operating profits as the company continues to benefit from surging smartphone sales

Revenues rose by 33% to US$6.48 billion, while operating profits rose by 29 percent to US$1.59 billion.

R&D expenses increased 23 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 and to expand the intellectual property portfolio.

MSM chip shipments were 190 million units, up 35 percent y-o-y and 10 percent sequentially.

Net profit was up by 18 percent to US$1.5 billion.

The company ended September with $29.4 billion in cash and equivalents in the bank.

Looking forward, we expect continued strong growth of 3G and 3G/4G multimode devices around the world, particularly in China with the anticipated launch of LTE.”

-Dr. Paul E. Jacobs, chairman and CEO of Qualcomm

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