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Qualcomm grows quarterly sales more than expected

Thursday 21 July 2016 | 08:50 CET | News
Qualcomm reported an improvement in results for its fiscal third quarter to June, as the company rebuilds its licensing business in China, the world's biggest market for smartphones. Revenues rose 4 percent year-on-year and 9 percent sequentially to USD 6.0 billion, better than the company's forecast, and operating profit was up 29 percent annually to USD 1.6 billion. Sales were helped by USD 235 million in deferred revenue recognised after settling its licensing dispute with LG. Net profit increased 22 percent to USD 1.4 billion, and adjusted EPS jumped 17 percent to USD 1.16, with an

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Categories: Mobile & Wireless
Companies: LG / Qualcomm
Countries: World
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