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Qualcomm breaks records with Q2 2012 earnings, thanks 'strong demand' for 3G- and 4G-enabled devices

Darren Murph

It's a good time to be in business. And by "business," we mean, "in the wireless business." Apple and Samsung seem to be selling every smartphone they make, and Qualcomm seems to be outfitting those very devices with quite a few components. After a record-setting Q1, Qually has just revealed that its Q2 2012 earnings made for "another quarter of record revenues and earnings per share." The driving force? "Strong demand for 3G- and 4G-enabled devices across both developed and emerging regions," according to Dr. Paul E. Jacobs, the outfit's chairman and CEO. Mobile device usage isn't apt to start contracting anytime soon, which has pushed the company to increase operating expenses to "facilitate additional 28 nanometer supply."

Getting down to brass tacks, we're told that Q2 revenues reached $4.94 billion, representing a 28 percent uptick year-over-year, while operating income hit $1.9 billion -- a 15 percent increase year-over-year. Net income was reported at $1.76 billion (a 21 percent improvement over Q2 2011), but it's important to note that these figures included $761 million, net of income taxes, for discontinued operations as a result of a $1.2 billion gain associated with the sale of "substantially all of its 700 MHz spectrum." Those looking for more figures can hit the source link; those looking to improve Qualcomm's bottom line can just buy another phone.

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