Qualcomm Incorporated, a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the first quarter of fiscal 2014 ended December 29…
Qualcomm Incorporated, a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the first quarter of fiscal 2014 ended December 29, 2013.
"We are pleased with the start to our fiscal year, with record results in quarterly revenues, device sales reported by licensees and MSM chip shipments," said Dr. Paul E. Jacobs, Chairman and CEO of Qualcomm.
"Looking forward, we expect our performance to reflect the continued strong global growth of smartphones, our chipset leadership position and our competitive strengths in 3G/4G technologies and products."
First Quarter Results (GAAP)*
• Revenues: 1 $6.62 billion, up 10 percent year-over-year (y-o-y) and 2 percent sequentially.
• Operating income: 1 $1.49 billion, down 28 percent y-o-y and 6 percent sequentially.
• Net income: 2 $1.88 billion, down 2 percent y-o-y and up 25 percent sequentially.
• Diluted earnings per share: 2 $1.09, even y-o-y and up 27 percent sequentially.
• Effective tax rate: 1 18 percent.
• Operating cash flow: $2.78 billion, up 41 percent y-o-y; 42 percent of revenues.
• Return of capital to stockholders: $1.59 billion, including $1.00 billion through repurchases of 14.2 million shares of common stock and $590 million, or $0.35 per share, of cash dividends paid.
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