Qualcomm reports a second-quarter loss
April 28th, 2009 Leave a comment Visited 32 times, 1 so far today
Qualcomm reports a second-quarter loss
Mobile technology company Qualcomm has come out with their latest revenue report.
The company has posted a second-quarter loss of 289 million dollars.
This disappointing result is mostly due to the announcement to pay rival Broadcom 891 million dollars to settle their patent dispute.
The company had posted profits of 766 million dollars in the same three months last year.
The revenues for the company were down to 2.46 billion dollars in the first quarter of the year.
Qualcomm chief executive Paul Jacobs said: “Our second quarter revenues were at the high end of prior guidance, and I am pleased with the strong operating performance of our business. The recent settlement with Broadcom will resolve all pending litigation between the parties, and while this settlement adversely impacted our second quarter results, eliminating uncertainty, employee distraction and cost related to protracted litigation is a positive.”
Checkout: Qualcomm
Broadcom, CDMA, mobile devices, Paul Jacobs, Qualcomm, Qualcomm.com, Revenues, Smartphones
Manuj Kumar
Category: Revenue Reports
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