Last quarter, Qualcomm
Sales soared 40% to $4.68 billion, with operating income similarly jumping 32% to $1.87 billion. Down below, net income put up a healthy 24% rise, coming out to $0.97 per share in profit. Qualcomm generated just less than $1.5 billion in free cash flow during the quarter, or 32% of sales.
Mobile Station Modem (MSM) chipset shipments increased 32% to 156 million units, higher than its previously issued guidance of between 146 million and 154 million. Total reported device sales added up to roughly $41.4 billion, near the top end of its forecast. Estimated 3G/4G device shipments were between 191 million and 195 million, with an average selling price of between $212 and $218 per unit.
To follow up the solid figures, CEO Dr. Paul Jacobs said, "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." Second-quarter sales are forecasted in the ballpark of $4.6 billion to $5 billion, with earnings per share of $0.91 to $0.97.
Meanwhile, chip rival NVIDIA
On the flipside, NVIDIA is expected to introduce a processor with an integrated baseband this year, a competitive advantage Qualcomm has long enjoyed.
Qualcomm has also seen some upside lately on talk that Apple's
The figures are a strong follow-up to Qualcomm's similar showing last quarter, and shares are rallying after-hours to the highest they've been in the past decade. Well done, Qualcomm.
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