QUALCOMM INC/DE Quarterly Report for Q1 Ended Dec 30, 2012

Summary

Qualcomm Inc./DE (QCOM) reported strong financial results for the quarter ending December 30, 2012, showcasing significant year-over-year growth in both revenue and net income. Total revenues reached $6.018 billion, a substantial increase from $4.681 billion in the prior year quarter, driven by robust performance in its Equipment and Services segment, particularly from its QCT (Qualcomm CDMA Technologies) division. This growth was fueled by a 17% increase in MSM integrated circuit shipments, alongside a 29% rise in total reported device sales by licensees. The company's profitability also saw a marked improvement, with net income attributable to Qualcomm rising to $1.906 billion, translating to diluted earnings per share of $1.09, up from $0.81 in the same period last year. This performance highlights Qualcomm's continued dominance in mobile technology and its ability to capitalize on the ongoing global transition to 3G and 3G/4G networks. The company's strong cash position, coupled with consistent dividend payments and share repurchases, further underscores its financial health and commitment to returning value to shareholders.

Key Highlights

• 1Total revenues increased by approximately 29% year-over-year to $6.018 billion.
• 2Net income attributable to Qualcomm grew significantly to $1.906 billion, a substantial increase from $1.401 billion in the prior year period.
• 3Diluted earnings per share increased to $1.09 from $0.81 year-over-year.
• 4MSM integrated circuit shipments increased by 17% to approximately 182 million units.
• 5Total reported device sales by licensees increased by approximately 29% to $53.3 billion.
• 6The company returned $428 million to shareholders through dividends and repurchased $250 million in stock during the quarter.
• 7Cash, cash equivalents, and marketable securities totaled $28.4 billion, demonstrating strong liquidity.

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