Earnings: Qualcomm Revs Grow 21 Percent; Income up 18 Percent

In its quarter ended December 30, Qualcomm (NSDQ: QCOM) did revenue of $2.44 billion, up 21 percent from the previous year’s $2.01 billion. Net income rose 18 percent to $767 million ($.46/share) from $646 million ($.38/share). As it stated last quarter, the company is not including royalties derived from Nokia (NYSE: NOK), with whom Qualcomm is in an intellectual property battle. Looking to next quarter, the company anticipates revenue of $2.4-$2.5 billion, representing an 8-13 percent year-over-year increase. Net income is expected to be flat year-over year. The forecast is seen as in line with expectations and the stock is up sharply after horus.

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