SAN DIEGO, Calif.-Qualcomm Inc. posted a first-quarter net profit of $241 million, or 30 cents per diluted share, a rise from a profit of $139.2 million, or 17 cents a diluted share, in the same period last year.
It recorded $1.1 billion in revenue for the quarter, about a 57-percent leap from $698.6 million last year.
Excluding investments and amortization of goodwill, Qualcomm enjoyed a profit of 42 cents a share in contrast to 23 cents per share a year ago.
“Qualcomm’s exceptionally strong performance in the first quarter was fueled by the successful commercial deployment of third generation CDMA networks, which now total 35 operators in 17 countries around the world,” said Irwin Jacobs, chairman and chief executive officer of the company.
He added that he expected significant growth in China and India this year as China Unicom, Reliance InfoComm, Tata Teleservices and other wireless operators introduce commercial cdma2000 1x service.
