Apple and Google aren’t the only ones benefiting from the smartphone revolution. Qualcomm, which makes mobile processors and other components powering smartphones, is also cashing in big.
Qualcomm reported a year-over-year revenue jump of 24 percent in its second quarter earnings report today, up to $6.12 billion from $4.94 billion. Given just how closely Qualcomm’s fate is tied to the mobile industry, it’s not a huge surprise to see its revenues flying high.
Qualcomm also made a big splash at CES earlier this year, with chief executive Paul Jacobs taking over Steve Ballmer’s traditional keynote spot (that certainly didn’t stop Ballmer from stopping by though). The company hasn’t been too vocal about promoting its brand until this year. Now Qualcomm is making sure it’s practically synonymous with the success of mobile.
Total device sales (those from Qualcomm’s licensees) for the quarter were up 18 percent to $61.1 billion, while sales of Qualcomm’s mobile chipsets increased 14 percent. The company reported “strong traction” of its Snapdragon 600 and 800 processors, but didn’t offer up any details in the initial earnings report.
Don’t expect Qualcomm’s growth to slow down anytime soon. Its chips power the latest high-end smartphones, Samsung’s Galaxy S4, HTC’s One, and BlackBerry’s Z10, and we’ll be seeing them in even more devices throughout the year. At this point, the company has a huge head start on Nvidia’s Tegra 4 mobile chip, its closest competitor in terms of power and efficiency.
We’re following Qualcomm’s earnings call which is going on now, so check back for more news.
Photo: CEA President Gary Shapiro with Qualcomm CEO Paul Jacobs at his batshit CES 2013 keynote