Seems like the telecom giant Qualcomm is leaving no stones unturned to make the most out of the ongoing mobile revolution. The company has posted a rather impressive financial report for the last quarter of 2011, thus facilitating itself with a perfect platform to kick start the proceedings in the New Year on a high note.
Qualcomm reportedly pocketed $4.68 billion in revenue in the first quarter in fiscal 2012 - the figure being 40 per cent higher than where it stood last year during the same quarter, and 14 per cent higher than Q4 2011.
Better still, it was not just the revenues that went higher but the profits too, as the company posted a total of $1.4 billion in profit - meaning a 33 per cent growth in comparison to Q1 2011, and 20 per cent in comparison to the profit earned throughout the year.
The company outperformed every single forecast made by analysts, as its standing in the stock exchanges went all the way up to 97 cents per share.
"I am pleased to report another record quarter with revenues, earnings and MSM shipments reaching all-time highs, driven by our industry-leading chipset portfolio and the continued strong demand for smartphones around the world," Dr. Paul E. Jacobs, chairman and CEO of Qualcomm, said in a statement [PDF].