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Qualcomm, the leading chipmaker, has apparently announced results for the first quarter of fiscal 2013 ended December 30, 2012. The company says the increased demand for smartphones was the reason for its solid increase in profits in the first quarter.
The overall profit of Qualcomm was up 36%. The company reported earnings of $1.91 billion out of $6.02 billion revenue. The shares of Qualcomm were priced at $1.09 per share. Earnings of Qualcomm were $2.2 billion or $1.26 per share excluding certain charges. The analyst predictions for Qualcomm, excluding these charges were $5.9 billion in revenue and $1.13 per share in earnings.
Licensing brought the company increased revenue of 20%, which covered about $1.8 billion of the total revenue earned. The revenue from sales and equipment also rose to $4.2 billion which is up 33%. It is seen that the San Diego chip giant has shipped nearly 182 million chips in the first quarter.
Qualcomm is now faced with tough challenges and looks like the company is all geared up to meet its demands in the upcoming quarters. The company also expects revenue of $5.8 to $6.3 billion in the ollowing quarter. Qualcomm also places high hopes and beliefs that the revenue would reach $23.4 to $24.4 billion up from its earlier projection of $23 billion.
Qualcomm-made chips are in high demand in the markets, even as Samsung and Apple, the two major giants are committed to manufacturing their own chips. The licensing model of the company is sure to earn better revenues for the company as LTE remains a strong avenue for future.