SAN DIEGO-Qualcomm Inc. soared to high profits in its second-quarter results, emphasizing the prosperity of its CDMA offerings and its place in the industry’s travel to next-generation services.
The company basked in a net income of $488 million, representing a 39-percent leap over the previous quarter and a 374-percent jump over the same quarter last year. Its earnings per share were 58 cents, amounting to a 35-percent increase over the previous quarter and a 346-percent rise over the year-ago period.
“Our financial results reflect the strong acceptance and rapid global growth of 3G CDMA,” said Irwin Jacobs, chairman and chief executive officer of the company. “Consumers and enterprises increasingly recognize the benefits of CDMA-based networks, with the number of subscribers now exceeding 200 million.”
The CDMA proprietor enjoyed revenues of $1.2 billion for the quarter, a trifle 1-percent edge over the first quarter, but a 20-percent improvement over the year-ago period.
The company said it shipped about 32 million chips, especially its MSM5100 and MSM5500, around the world.
“We anticipate supply to better align with demand over the course of the next two quarters,” the company said.
Qualcomm is enthusiastic about the third quarter, projecting a revenue increase of approximately 4 percent to 7 percent sequentially and 41 percent to 44 percent over the year-ago period, excluding its Qualcomm Strategic Initiative Program. Including that item, it expects revenues to grow about 26 percent to 29 percent over the year-ago period and its EPS to be in the $1.93 to $1.98 range.
