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Qualcomm Q1 2013 earnings: $1.91 billion in profit on revenues of $6 billion

The folks in San Diego are making it rain once again, as Qualcomm has just announced its earnings for the quarter with $6 billion in revenues, which represents a 29 percent year-over-year increase and a new record for the firm. It seems the company's Snapdragon chips are everywhere you look these days, and it should come as no surprise that Qualcomm also hauled in a profit of $1.91 billion, which is a 36 percent hike over the previous year. Seeing that the company is so well off, it's also announced a cash dividend payment of $428 million that will go back to shareholders, along with stock repurchases in the amount of $250 million. In case you were wondering, Qualcomm managed to push 182 million of its SoC's out the door during Q1, which represents a 17 percent year-over-year increase. With the Snapdragon 800 due by mid-year, we've a feeling that it'll keep raining in San Diego for some time -- even if the nice weather says otherwise.

Article source: http://www.engadget.com/2013/01/30/qualcomm-q1-2013-earnings/

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