updated 08:00 pm EDT, Wed April 18, 2012
Net income up 123% year-over-year
Qualcomm Incorporated released its financial results for the second quarter of fiscal 2012 today, with numbers showing substantial revenue growth for yet another consecutive quarter. The mobile chip and network gear maker noted record revenue and earnings per share growth, driven by 3G- and 4G-enabled devices.
For the quarter ended March 25, 2012, Qualcomm posted Q2 revenues of $4.94 billion, up 28 percent year-over-year, and six percent sequentially. The company also saw net income increase to $2.23 billion, representing year-over-year and sequential increases of 123 percent and 59 percent, respectively.
In addition to its Snapdragon processors, Qualcomm supplies cellular chipsets for Apple's immensely popular iPhone 4S and iPad, as well as for an array of Android smartphones and tablets. The company also anticipates increased demand for its processors it makes when Windows 8 is introduced, as that will be the first desktop OS to support ARM processors.
In the second quarter, Qualcomm shipped 152 million of its MSM chips for use in mobile devices, up 29 percent year-over-year, but down three percent sequentially. Qualcomm chairman and CEO Dr. Paul E. Jacobs cited strong and continuing growth in adoption of 3G and 4G smartphones, as well as growing adoption of other mobile computing devices, as significant drivers of revenue and income growth. These devices, he said, represent a continuing shift in the nature of the computing landscape, one which Qualcomm looks to take advantage of going forward.