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Qualcomm's Q1 2011 revenues up 25% to $3.35 billion

Net income up 39% to $1.17 billion

Qualcomm's Q1 2011 revenues up 25% to $3.35 billion
Chipset IP company Qualcomm (NASDAQ: QCOM) has announced its Q1 FY2011 results for the 3 months ending 26 December 2010.

Revenues were $3.35 billion, up 25 percent year-on-year.

Net income was $1.17 billion, up 39 percent.

Operating cash flow was $48 million, down 96 percent, due to a $1.5 billion income tax payment.

Up and up

During Q1, the company shipped 118 million chips, up 28 percent year-on-year.

"We are very pleased to report record revenues, earnings per share and MSM chipset shipments this quarter driven by increased demand for smartphones and data-centric devices across an expanding number of regions and price points," said Paul Jacobs, chairman and CEO.

"In addition, we have resolved one of our previously disclosed licensee disputes, which will be reflected beginning with the second fiscal quarter results.

"We continue to execute on our strategic objectives as our partners leverage our technologies and solutions to offer leading wireless products and services to consumers around the globe."

The company ended the quarter with cash, cash equivalents and marketable securities of $19.1 billion, compared to $18.4 billion three months ago.

During the quarter, Qualcomm paid out $309 million to shareholders as a dividend ($0.19 per share).

[source: Qualcomm PDF]

When Matt was 7 years old he didn't write to Santa like the other little boys and girls. He wrote to Mario. When the rotund plumber replied, Matt's dedication to a life of gaming was established. Like an otaku David Carradine, he wandered the planet until becoming a writer at Pocket Gamer.

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