Qualcomm net profit in quarter to end-December up 36%

Qualcomm has reported its first-fiscal quarter results for the last three months of 2012, and announced that its revenues rose by 29 per cent year-on-year to reach US$6 billion, while net profit jumped by 36 per cent to US$1.9 billion.

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

Paul Jacobs, chairman and CEO of Qualcomm said: "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 totalled US$28.4 billion at the end of 2012, compared to $22 billion at the end of 2011.