San Diego-based Qualcomm Inc. said Wednesday that increased shipments of chipsets and record licencing revenue led to increases of 4 percent in revenue and 5 percent in net income for the latest quarter compared to a year ago.
The developer of wireless products and services reported revenue of $6.37 billion in the quarter ended March 30 and net income of $1.96 billion.
“We delivered another solid quarter, driven by demand for our leading multimode 3G/LTE chipset solutions and record licensing revenues,” said CEO Steve Mollenkopf.
“Looking forward, we are pleased to be raising our earnings per share guidance for the fiscal year. We continue to see increasing demand for our industry-leading chipsets and strong growth in calendar year 2014 of 3G/4G smartphones around the world.”
The results for the quarter, the second in the company’s fiscal year, equaled $1.14 per share of common stock.
The company said that it shipped 188 million chipsets for high-end mobile devices, up 9 percent from a year ago. Those chips went into devices selling for a total of $66.5 billion throughout the world.
— From a Qualcomm press release
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