Qualcomm reported revenues of USD 3.88 billion for its fiscal second quarter to March, up 46 percent year-over-year and 16 percent more than the previous quarter. The company shipped 118 million of its Mobile Station Modems in the quarter, up 27 percent from a year ago. Operating profit rose 38 percent to USD 1.07 billion, net profit was up 29 percent to USD 999 million, and EPS increased 28 percent to USD 0.59. The results included USD 310 million in costs for shutting down the Flo mobile TV service as well as impairments of USD 120 million on the Firethorn mobile payments unit. Operating cash flow more than doubled year-on-year to USD 1.77 billion, and Qualcomm finished the period with a total USD 22.1 billion in cash. The company said it expects its takeover of Atheros Communications to close in fiscal Q3. Third-quarter revenues are forecast up 24-25 percent year-on-year to USD 3.35-3.65 billion and EPS at USD 0.60-0.64, an increase of 28-36 percent. Qualcomm also improved its full-year outlook. The sales estimate rises to USD 14.1-14.7 billion, from previous guidance of USD 13.6-14.2 billion, and the EPS outlook was increased to USD 2.51-2.59 from USD 2.32-2.46. Qualcomm estimates a market of 750 million CDMA-based devices this year, at an average selling price of USD 199-209.
