Smartphone market sees Qualcomm post healthy earnings

Mighty mobile phone chipset peddler Qualcomm has posted enormous earnings on the back of the smartphone swell, beating estimates onprofit and sales.

Qualcomm told us back at Mobile World Congress that smartphones are basically the new PC – and their existence is certainly doing it no harm. Second quarter earnings saw revenues up almost half by 46 percent year-on-year, reaching $3.88 billion – also a 16 percent sequential increase.

Meanwhile its operating income hit $1.07 billion, which similarly was boosted heavily compared to last year, by 38 percent, however sequentially it was down three percent. Net income rang in at $999 million, up 29 percent from the same period last year but down 17 percent sequentially.

The improvements in networking, including LTE, is boosting the desirability and appeal of smartphones for all sorts of users. Not to mention Qualcomm has a tidy patent archive which it is happily licensing out to turn a tidy profit. 

Qualcomm predicts profits for the third quarter should see sales of $3.35 billion to $3.65 billion. Predicted sales overall this year saw an optimistic, increased forecast of up to $14.2 billion.