Wireless titan Qualcomm
Qualcomm posted revenues of $2.44 billion, up 21% from last year on the increase of chipset sales and license royalties. Qualcomm's technology licensing division drew in $650 million this quarter, a level 8% higher than last year despite the absence of royalties from top handset maker Nokia
While the bottom line came in just shy of what the average analyst had hoped for, Qualcomm still reported an 18% increase in GAAP net income of $767 million. With the strong earnings, Qualcomm's cash position now stands at $11.3 billion. This amount is down slightly as the company pays out a dividend and continues to buy back shares, including $668 million paid to retire 17.7 million shares in the last few weeks.
So while Qualcomm continues to grapple with bans and lawsuits brought on by Broadcom
Another bright spot -- outside of the earnings report -- came earlier in the day when Motorola
If I had to choose one word to characterize Qualcomm at this point, it would be "resilient." The company continues to hold its own in a tough environment, which bodes well for its future.
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Fool contributor Dave Mock can be taught new tricks with the proper motivation. He owns shares of Motorola and Qualcomm and is the author of The Qualcomm Equation. The Fool's disclosure policy does windows, too.