Qualcomm Quarterly Profits Jump by Over a Third

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Qualcomm has reported its first fiscal quarter results for the last three months of 2012 and announced that its revenues rose by 29% to reach USD6 billion while net profit jumped by over a third (36%) to USD1.9 billion.

Revenues were driven by MSM chip shipments, which were up by 17 percent at 182 million units.T

Dr. Paul E. Jacobs, chairman and CEO of Qualcomm: "Our broad licensing partnerships and extensive chipset roadmap, including our recently announced best-in-class Qualcomm Snapdragon 800 and 600 processors, position us well for strong growth, and we are pleased to be raising our revenue and earnings guidance for fiscal 2013."

The company's cash, cash equivalents and marketable securities totaled US$28.4 billion at the end of 2012, compared to $22 billion at the end of 2011.

Non-GAAP research and development (R&D) expenses increased 27 percent y-o-y primarily due to an increase in costs related to the development of CDMA-based 3G, OFDMA-based LTE and other technologies for integrated circuit and related software products and to expand the intellectual property portfolio.  

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