Qualcomm announces record Q1-12 results

SAN DIEGO, USA: Qualcomm Inc. announced record results for the first quarter of fiscal 2012 ended December 25, 2011.

"I am pleased to report another record quarter with revenues, earnings and MSM shipments reaching all-time highs, driven by our industry-leading chipset portfolio and the continued strong demand for smartphones around the world," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "We are raising our revenue and earnings guidance as our broad licensing partnerships and extensive chipset roadmap, led by our integrated Snapdragon processors, position us well for strong growth in fiscal 2012. We continue to invest in innovative wireless technologies, products and services, and we are excited about the opportunities ahead as 3G and 4G continue to expand across new device types and geographies."

Q1 results (GAAP)
Revenues: $4.68 billion, up 40 percent year-over-year (y-o-y) and 14 percent sequentially.
Operating income: $1.55 billion, up 24 percent y-o-y and 25 percent sequentially.
Net income: $1.40 billion, up 20 percent y-o-y and 33 percent sequentially.
Diluted earnings per share: $0.81, up 14 percent y-o-y and 31 percent sequentially.
Effective tax rate: 19 percent for the quarter.
Operating cash flow: $1.78 billion, 38 percent of revenues.
Return of capital to stockholders: $461 million, including $362 million, or $0.215 per share, of cash dividends paid, and $99 million to repurchase 2.0 million shares of our common stock.