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Qualcomm Announces Q2

SAN DIEGO, Calif. — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the second quarter of fiscal 2011 ended March 27, 2011.

“We are pleased to report record quarterly revenues, and we are raising our revenue and earnings guidance for the year as the demand for smartphones across an array of geographies and tiers continues to grow,” said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. “In addition, we have resolved the second of the two previously disclosed licensee disputes. We continue to execute on our strategic priorities as our partners deploy our technologies and solutions to offer leading wireless products and services to consumers worldwide.”

Second Quarter Results (GAAP)

  • Revenues: $3.88 billion, up 46 percent year-over-year (y-o-y) and 16 percent sequentially.
  • Operating income: $1.07 billion, up 38 percent y-o-y and down 3 percent sequentially.
  • Net income:(1) $999 million, up 29 percent y-o-y and down 15 percent sequentially.
  • Diluted earnings per share:(1) $0.59, up 28 percent y-o-y and down 17 percent sequentially.
  • Effective tax rate: 21 percent for the quarter.
  • Operating cash flow: $1.77 billion, up 123 percent y-o-y; 46 percent of revenues.
  • Return of capital to stockholders: $316 million, or $0.19 per share, of cash dividends paid.

    Read the full press release.

    {complink 4505|Qualcomm Inc.}

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