Qualcomm boasts of soaring sales

Qualcomm controls 3G standards for mobile phones

The US communications company Qualcomm has reported soaring sales during its most recent quarter.

The company's net income came in at $190m for the three months ending on 29 September, beating Wall Street estimates.

We're clearly pleased here

John Bucher
Gerard Klauer Mattison

This also compares with a loss of $75m in the same period last year.

Qualcomm is best known for developing Code Division Multiple Access (CDMA) technology, used in most US mobile phones.

The company also controls patents for CDMA2000 technology, which is a third-generation standard for mobile phones across the world.

Higher forecasts

In addition, the San Diego-based company raised estimates for its current quarter, after sales increased by 34% to $874m from $651m a year ago.

"We're clearly pleased here," said John Bucher, analyst with Gerard Klauer Mattison & Co. "This looks like a very bullish posting of their results."

Qualcomm has seen its sales dented by the telecom slump, but has still managed to outperform its peers.

For the full fiscal year, Qualcomm made profits of $360m on $3.04bn in revenue, compared with a loss of $578m in the previous year on turnover of $2.68bn.

The company is benefiting as wireless carriers use its wireless technology to build next-generation networks.