Blog Post

Earnings: Qualcomm Q3 Profits Up, Outlook Improved

Qualcomm‘s Q2 profit and revenue rose on improving demand for more expensive high-speed mobile phones in Japan, the company announced in its earnings today. Its profit rose to $560 million, from $486 million in the year-ago period. Revenue rose to $1.36 billion from $1.34 billion a year ago.
The market for W-CDMA is taking off slower than Qualcomm expected in Europe but executives said this is being partly offset by strong demand in Japan. “With the exception of South Korea we’re looking for growth in all our markets this year,” CFO William Keitel said, adding that South Korea was exceptionally strong in 2004.
On the MediaFlo side (its mobile TV effort), the company invested about $22 million for the quarter. Another data point: the company has a $48 million gain on its minority investment in a wireless publisher (didn’t name it…anyone knows more?)
Some BREW figures: As of July 2005, 45 wireless operators were offering BREW services in 24 countries. As of June 2005, BREW publishers and developers have earned more than $350 million to date from the sale of wireless applications and services developed for the BREW solution, compared to the more than $200 million announced in October 2004.