Telecom Lead America: Chip major Qualcomm has posted
revenues of $4.94 billion, up 28 percent, during the second quarter of fiscal
2012 ended March 25, 2012.
The strong revenue growth was driven by demand for 3G-
and 4G-enabled devices across both developed and emerging regions.
Net income at $2.23 billion, was up 123 percent y-o-y.
Qualcomm shipped152 million units of MSM chip, up 29
percent.
Qualcomm said its rresearch and development (R&D)
expenses increased 30 percent primarily due to an increase in investments in
the development of integrated circuit products (including connectivity
products), next-generation technologies and other initiatives to support the
acceleration of advanced wireless products and services.
“I am pleased to report another quarter of record
revenues and earnings per share, driven by strong demand for 3G – and 4G-enabled
devices across both developed and emerging regions,” said Paul E. Jacobs,
chairman and CEO of Qualcomm.
“We are excited to see the continued growth of 3G
and 4G smartphones, as well as new mobile computing devices. We are
increasing our operating expenses to facilitate additional 28 nanometer supply and
to continue to position our industry-leading chipset solutions for the
opportunities ahead,” Jacobs added.
Qualcomm said its QSI segment makes strategic
investments, many of which are in early-stage companies, and holds wireless
spectrum. QSI also includes the discontinued operations of FLO TV
business. QSI results for the second quarter of fiscal 2012 included a
$1.2 billion gain in discontinued operations, associated with the sale of
substantially all of 700 MHz spectrum, and $81 million in other operating
expenses related to a payment made to the Indian government in connection with
the issuance of the BWA spectrum license.
