Qualcomm books record quarter with FY12 Q2 sales up 28% to $4.9 billion
$26.6 billion cash pile boosted by spectrum sell off
GAAP revenues were $4.94 billion, up 28 percent year-on-year.
Net income was $2.23 billion, up 123 percent year-on-year.
One reason for the big jump was the company received net income of $761 million for selling off its 700 MHz spectrum - part of its now shuttered FLO mobile TV experiment.
During the quarter, the company generated $1.89 billion in terms of operating cash flow, paying back $366 million to shareholders in terms of dividends.
Sales bigger, chips smaller
"I am pleased to report another quarter of record revenues and earning per share, driven by strong demand for 3G and 4G-enabled devices across both developed and emerging regions," said CEO Paul Jacobs.
"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."
During the quarter, shipments of Qualcomm chips were up 29 percent year-on-year to 152 million; its second largest total ever after Q4 FY11.
It ended the period with $26.6 billion in terms of cash, cash equivalents and marketable securities, up $4.5 billion compared to the total on 25 December 2011.
[source: Qualcomm (PDF)]