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Qualcomm reveals third quarter results
24 July 2010 , Written by Dhruv Tanwar
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Wireless technologies company Qualcomm has announced its financial results for the third quarter of fiscal 2010 ended June 27, 2010.

Revenues for the quarter were $2.71 billion, down two percent year-over-year. Operating income was $792 million, down 11 percent year-over-year and up 2 percent sequentially. Net income was $767 million, up four percent year-over-year and down one percent sequentially. Diluted earnings per share were $0.47, up seven percent year-over-year and two percent sequentially.  Operating cash flows were $951 million.

Qualcomm returned $1.49 billion in capital to stockholders, including $309 million, or $0.19 per share, of cash dividends paid, and $1.18 billion to repurchase 32.4 million shares of common stock. Cash, cash equivalents and marketable securities totaled approximately $17.6 billion at the end of the quarter, as compared to $18.2 billion at the end of the previous quarter of fiscal 2010 and $15.7 billion a year ago.  

Dr. Paul E. Jacobs, chairman and CEO of Qualcomm said financial performance was driven by record MSM chipset shipments, favorable product mix and continued strong demand for 3G devices around the world.
 

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