Boston, MA 01/31/2014 (wallstreetpr) – QUALCOMM, Inc. (NASDAQ:QCOM) has reported its earnings for the first quarter of F2014 with earnings of $1.26 per share and revenue totaling $6.62 billion. Analysts had projected earnings of $1.18 per share for the quarter with a total revenue of $6.7 billion. Hours after posting the positive results the company stock rose by as much as 2%.”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”, the chairman and CEO of Qualcomm was quoted as saying.
QUALCOMM Inc. (NASDAQ:QCOM) expects the strong growth of smartphones around the globe to have a positive impact on its continued growth. Qualcomm operating income for Q1 stood at $1.49 billion which was a 28% decline year over year and 6% sequentially. The company reported a $665 million gain on discontinued operations of its Omnitracs division, the company also reported a total of $444 million charge due to impairment charges on some of its property, the positive results were greatly echoed by the increase in the sale of MSM chip units which totaled 213 million or a 17% year over year increase or 12% sequential increase.
QUALCOMM, Inc. (NASDAQ:QCOM) returned a total of $1.59 billion to shareholders including $1 billion as part of the buyback of 14.2 million shares and 590 million or $0.39 per share in cash dividends. Qualcomm continues to invest heavily in research and development in the effort of maintaining its leading position in wireless technology. Qualcomm already having a thousands of mobile and wireless patents under its portfolio has gone overboard to add another patent under its label with the purchase of Hewlett-Packards patents. Qualcomm owns a large amount of 3G and 4G patents that has bolstered its revenue base as it continues to earn 3% to 5% for the price of each device sold that contains Qualcomm intellectual property.
