Qualcomm (NSDQ: QCOM) released its Q307 earnings results, bringing in $2.31 billion in revenue for the quarter, an increase of 15 percent year-on-year and a fall of 1 percent sequentially. Net income increased 84 percent year-on-year to $1.13 billion (a fall of 42 percent sequentially). For the full financial year revenues were $8.87 billion, an increase of 18 percent year-on-year, and net income was $3.30 billion, an increase of 34 percent year-on-year. Qualcomm hasn’t included the royalty it believes it should get from Nokia (NYSE: NOK) (until such time as it can force Nokia to pay), which resulted in trimming 25 to 30 cents per share off the expected earnings for fiscal 2008, giving guidance of $2.03 - $2.09 per share. Qualcomm expects handset shipments to number 390 million this year (208 million CDMA, 182 million WCDMA), with the figure growing to 507 million for 2008 (223 million CDMA, 284 million WCDMA).
Earnings Release PDF