June 2008 -- At Qualcomm Inc., a manufacturer of digital wireless communications products, revenues were up
17% year-over-year in the second quarter of 2008, coming in at $2.61 billion. Net income was up
6% from the previous year, at $766 million. Things are going so well, in fact, that the company
announced it was raising fiscal 2008 revenue and earnings per share guidance.
"We delivered another strong quarter as worldwide adoption of 3G CDMA-based products and
services continues to accelerate," said Dr. Paul E. Jacobs, CEO of Qualcomm, in the company's
April 23 quarterly statement. According to Jacobs, the positive financial results reflect
another record quarter of both MSM Mobile Station Modem chipset and Code Division Multiple
Access-based device shipments.
Explaining further the growth in the second quarter, Jacobs noted that Qualcomm's "Gobi mobile
internet solution, which provides ubiquitous connection to mobile operator networks worldwide,
has been accepted by leading notebook manufacturers, and our Snapdragon platform has multiple
design wins with several customers. MediaFLO USA continues its network deployment and FLO-TV
will soon be offered by the two largest U.S. operators. We announced a partnership with Citi
Cards that brings the total to four of the top 10 banks in the U.S. now taking advantage of the
Firethorn solution."
