Qualcomm fiscal Q4 to end-September sees revenues up 33% and profit 29%

Qualcomm has reported a one-third rise in its fiscal Q4 revenues, and nearly the same for its operating profits as the company continues to benefit from surging smartphone sales.

Revenues rose by 33 per cent to US$6.48 billion, while operating profits rose by 29 per cent to US$1.59 billion.

R&D expenses increased 23 per cent primarily due to an increase in costs to develop CDMA-based 3G, OFDMA-based LTE and other technologies for integrated circuit and related software products and to expand the intellectual property portfolio.

MSM chip shipments were 190 million units, up 35 per cent year-on-year and 10 per cent sequentially.

Net profit was up by 18 per cent to US$1.5 billion.

The company ended September with $29.4 billion in cash and equivalents in the bank.

"Looking forward, we expect continued strong growth of 3G and 3G/4G multimode devices around the world, particularly in China with the anticipated launch of LTE." said Paul E. Jacobs, chairman and CEO of Qualcomm.

For the full-year to end-September, Qualcomm recorded record revenues of US$24.87 billion, up 30 per cent year-on-year.