Qualcomm, a leading supplier of chips for handsets, said its revenues rose 40% year-on-year to 4.68 billion US dollars in the quarter ending December 25. The San Diego-based firm said shipments of its "mobile station modem" chipsets climbed 32% year-on-year to 156 million units, fuelled by rising demand for smartphones.
“We are raising our revenue and earnings guidance as our broad licensing partnerships and extensive chipset roadmap, led by our integrated Snapdragon processors, position us well for strong growth in fiscal 2012," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm.
Qualcomm said it spent 873 million US dollars on research and development in the quarter ending December 25 compared with 649 million dollars in the same quarter of 2010. It forecast that its revenues in the current quarter will be between 4.6 billion and 5 billion dollars, up between 19% and 29% year-on-year. source: Qualcomm statement