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[Commercial] QUALCOMM Reports Record Third Quarter Jack Browne | ED Online ID #16206 | July 26, 2007
Financial results couldn't be better for telecommunications giant QUALCOMM, as the company reported record third-quarter fiscal 2007 results. Revenue was reported at $2.33 billion, up 19 percent from the previous fiscal year, while net income was reported at $798 million, which was 24 percent higher than the previous year. QUALCOMM's cash, cash equivalents, and marketable securities totalled approximately $12.3 billion at the end of the third quarter for fiscal 2007, compared to $11.3 billion at the end of the second quarter for fiscal 2007 and $9.5 billion a year ago. According to Dr. Paul E. Jacobs, the company's Chief Executive Officer (CEO), "We had another tremendous quarter, providing market validation for the innovative products and solutions delivered by our employees and partners worldwide. The fundamental drivers of our business remain very strong. Our record revenue and earnings this quarter reflect continued worldwide demand for innovative third-generation devices and services." In the third quarter alone, the company shipped a record 65 million CDMA-based MSM(tm) chipsets for third- generation cellular handsets.
QUALCOMM (www.qualcomm.com)
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