Qualcomm raises FY outlook after strong Q1

News Wireless Global 31 JAN 2013
Qualcomm raises FY outlook after strong Q1

Qualcomm reported revenue for its fiscal first quarter up 29 percent year-over-year to USD 6.02 billion. Operating income totaled USD 2.09 billion, up 35 percent, net income increased 36 percent to USD 1.91 billion, and diluted earnings per share rose 35 percent to USD 1.09. MSM chip shipments increased 17 percent from a year earlier and 29 percent versus the previous quarter to 182 million units.

Operating cash flow for the quarter totaled USD 1.98 billion, up 11 percent from the prior year, and Qualcomm finished December with cash, cash equivalents and marketable securities of USD 28.4 billion, up from USD 22.0 billion.

For the second quarter 2013, Qualcomm expects revenues of USD 5.8-6.3 billion, non-GAAP diluted earnings per share of USD 1.10-1.18 and GAAP diluted EPS of USD 0.98-1.06. The company raised its outlook for the full year, to sales of USD 23.4-24.4 billion and EPS of USD 3.61-3.81. 

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