Phone chip vendor Qualcomm said its first quarter revenue rose 10 percent to $6.62 billion, while net income decreased 2 percent to $1.88 billion.
Sequentially, Q1 2014 revenue increased 2 percent and net income grew 25 percent, the San Diego-based Qualcomm said on Wednesday.
Device sales reported by licensees and MSM chip shipments contributed to the growth in revenue.
Paul E Jacobs, chairman and CEO of Qualcomm, said: “Looking forward, we expect our performance to reflect the continued strong global growth of smartphones, our chipset leadership position and our competitive strengths in 3G/4G technologies and products.”
Despite challenging conditions on account of the probe in China, Qualcomm maintained its revenue outlook for the current year at $26 billion to $27.5 billion.
For the second quarter, Qualcomm is expecting $6.1 billion to $6.7 billion revenue from the earlier expectation of $6.12 billion.
