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Qualcomm reveals MediaFLO's 2007 numbers (hint: profit-free)
Qualcomm's proxy statement filing with the SEC last week revealed some juicy tidbits regarding subsidiary MediaFLO USA's performance in fiscal year 2007, and as might be expected, the numbers aren't so hot. The mobile TV outfit's revenue isn't broken down specifically, but Qualcomm calls it out as largely accounting for its QSI (Qualcomm Strategic Initiatives) segment's poor '07 showing thanks to a $118 million year over year increase in losses. To be fair, MediaFLO launched for the first time anywhere on any carrier in 2007, and the statement blames $70 million of those losses on expenses associated with the March '07 rollout on Verizon -- but these cats have another big push coming up with AT&T, and we can't imagine that service launches are getting any cheaper these days. Hopefully the economies of scale start to kick in before too long and put 'em on the road to black ink.[Via mocoNews]
