Qualcomm Reports 36 Percent Jump In Profits For 1Q 2013
Qualcomm Wednesday announced its 2013 first quarter numbers boasting $6 billion in revenue, a 29 percent increase year over year, and a net income of $1.9 billion, a 36 percent jump year over year. The numbers included a $1.09 earnings per share, representing a 35 percent increase year over year.
The San Diego-based chip maker announced in a press release it had also managed to boost its operating cash flow to $1.98 billion, an 11 percent increase annually.
“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,” said CEO Paul Jacobs.
Qualcomm noted it had shipped 182 million chipsets during the quarter, up 17 percent annually. Strong demand for smartphones featuring Qualcomm chips, like Samsung’s Galaxy S3 and Google’s Nexus 4, helped drive shipments.
As of 8:38 a.m. CST, Qualcomm’s stock is up more than 5 percent.