Qualcomm Announces Q2 2012 Results: Revenue Of $4.94 Billion, Up 28% YOY

Posted on Apr 20 2012 - 5:53am by Editorial Staff

Qualcomm has announced results for the second quarter of fiscal 2012 ended March 25, 2012. The company reports revenues of $4.94 billion, up 28 percent year-over-year (y-o-y) and 6 percent sequentially with an operating income: $1.51 billion, up 6 percent y-o-y and down 2 percent sequentially. The diluted earnings per share is $1.28, up 117 percent y-o-y and 58 percent sequentially.

“I am pleased to report another quarter of record revenues and earnings per share, driven by strong demand for 3G- and 4G-enabled devices across both developed and emerging regions,” said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. “We are excited to see the continued growth of 3G and 4G smartphones, as well as new mobile computing devices. We are increasing our operating expenses to facilitate additional 28 nanometer supply and to continue to position our industry-leading chipset solutions for the opportunities ahead.

Second Quarter Results (GAAP):

  • Revenues: $4.94 billion, up 28 percent year-over-year (y-o-y) and 6 percent sequentially.
  • Operating income: $1.51 billion, up 6 percent y-o-y and down 2 percent sequentially.
  • Net income: $2.23 billion, up 123 percent y-o-y and 59 percent sequentially.
  • Diluted earnings per share: $1.28, up 117 percent y-o-y and 58 percent sequentially.
  • Effective tax rate: 17 percent for the quarter.
  • Operating cash flow: $1.89 billion, up 7 percent y-o-y; 38 percent of revenues.
  • Return of capital to stockholders:  $366 million, or $0.215 per share, of cash dividends paid.

Non-GAAP Second Quarter Results:

  • Revenues:  $4.94 billion, up 28 percent y-o-y and 6 percent sequentially.
  • Operating income:  $1.90 billion, up 15 percent y-o-y and 2 percent sequentially.
  • Net income:  $1.76 billion, up 21 percent y-o-y and 5 percent sequentially.
  • Diluted earnings per share:  $1.01, up 17 percent y-o-y and 4 percent sequentially.
  • Excludes $0.41 earnings per share attributable to the QSI segment, $0.11 loss per share attributable to certain share-based compensation and $0.03 loss per share attributable to certain acquisition-related items.
  • Effective tax rate:  17 percent for the quarter.
  • Free cash flow (defined as net cash from operating activities less capital expenditures):  $1.81 billion, down 2 percent y-o-y; 37 percent of revenues.
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