Qualcomm announces record first-quarter results

US-based wireless telecommunications company Qualcomm has announced record financial results for the first quarter of fiscal 2011 ended 26 December 2010, including revenues of $3.3bn (£2.1bn), up 24 per cent year over year and 13 per cent sequentially.

Operating income totalled $1.1bn, up 26 per cent from last year and 33 per cent from the previous quarter.

Net income was $1.2bn, up 39 per cent year over year and 35 per cent sequentially.

Diluted earnings per share stood at $0.71, up 42 per cent in comparison to the previous year and 34 per cent from the fourth quarter of 2010.