Qualcomm announced an increase of revenue to $2.2 billion, up 21 percent year-over-year for its second quarter. Net income increased 22 percent to $726 million. While Nokia's dispute with Qualcomm made the company unable to count Nokia's licensing revenue, Qualcomm still pulled in $851 million from licensings and royalty fees alone, which accounts for about 38 percent of its overall revenue. Revenue from royalties rose 19 percent, compared with the same quarter a year ago, according the company.
According to CEO Paul Jacobs, Qualcomm raised its guidance thanks to "stronger than expected chipset demand across our product portfolio and higher CDMA2000 handset shipments." The company estimates a full fiscal year forecast of $8.4 billion to $8.7 billion in annual revenue, up from the previous forecast of $8.1 billion to $8.6 billion. Jacobs also said the strong quarter and guidance come "despite the attempts by a small number of competitors to disrupt our business." Namely Nokia and Broadcom.
For more on Qualcomm's Q2:
- check out this AP article