Calendar year 2010 3G device shipments are progressing in line with our expectations, says CEO
Qualcomm has reported revenues of $2.66bn for the second quarter of 2010, an increase of 8.1% compared to $2.46bn for the same period last year. Revenues were down 0.4% sequentially.
Operating income for the quarter was $776m, compared to an operating loss of $10m in the same period last year. It was down 11.7% on a sequential basis, compared to $879m in Q1 FY10.
The company has posted a net income of $774m for the second quarter of 2010, compared to net loss of $289m for the same period last year. Diluted earnings per share was $0.46, compared to a diluted loss per share of $0.18 in the prior year and diluted earnings per share of $0.50 in the prior quarter.
Paul Jacobs, chairman and CEO of Qualcomm, said: “We delivered strong financial results this quarter, driven by healthy 3G device shipments and greater than expected demand for our chipsets. 3G subscribers have now surpassed 1 billion worldwide and with the 3G auction process underway in India, the 3G footprint continues to expand globally.
“Calendar year 2010 3G device shipments are progressing in line with our expectations, and although we’re continuing to operate in a competitive chipset pricing environment, we’re positioned to continue to grow share through new partner engagements and our broad, industry-leading 3G chipset roadmap.”
The company expects revenues for the third quarter to decrease by 2%-9% to $2.5- $2.7bn and diluted EPS to decrease by 9% or less to $0.40-$0.44.