Snapdragon demand pushes Qualcomm fiscal Q3 profit up 31%
Earlier today, we ran a story about how MediaTek could overtake Qualcomm in the mobile space because the biggest growth market right now is in low-end devices, which is where MediaTek lives, and Qualcomm is just a visitor. But, whatever the future may hold, Qualcomm's fiscal Q3 earnings report shows that the company is doing quite well in the here and now.
Qualcomm is saying that profits are up 31%, and that revenue was up 35% to $6.24 billion.. For it's fiscal Q3, which ended June 30, Qualcomm reported a profit of $1.58 billion, or 90 cents a share, up from fiscal Q3 2012 which had profits of $1.21 billion, or 69 cents a share, a year earlier. It also said that total shipments in the third quarter numbered 172 million units, which is an increase of 22% year-on-year.
For the fiscal year ending in September, Qualcomm is projecting revenue to be in the range of $24.3 billion to $25 billion. The company is also projecting per-share income of $4.48 to $4.56. Both per-share numbers and yearly revenue are higher than previously projected.