173 million MSM chips shipped in the quarter; raising fiscal 2013 guidance
Qualcomm, which powers many of the gadgets we know and love, has just reported its Fiscal Second Quarter results. Here's your quick breakdown of the headline numbers for the quarter:
- $6.12 billion in revenues for the quarter, up 24-percent year-over-year
- $1.88 billion in operating income, up 24-percent y-o-y but down 10-percent q-o-q
- $1.68 billion in net income, down 16-percent y-o-y
- $2.22 billion in operating cash flow, up 17-percent y-o-y
- 173 million MSM chips shipped in the quarter, up 14-percent y-o-y
This is overall a bit of a mixed bag for Qualcomm this quarter. While its revenues hit a record high, net income decreased year-over-year and most financial metrics dipped quarter-over-quarter. Some of this can be attributed to increased R&D (Research & Development), which jumped 27-percent from the year previous to $1.21 billion. Qualcomm says the increased R&D costs come from increased development time spent on CDMA-based 3G and OFDMA-based 4G LTE products.