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Qualcomm Inc., the biggest maker of chips used in mobile phones, said a push into new markets such as automotive and connected devices bolstered sales in the second quarter, helping relieve concerns that growth will be hurt by legal challenges in its licensing business.
[...] Qualcomm's net income in the fiscal second quarter, which ended March 26, fell to $749 million, or 50 cents a share. Excluding certain items, profit was $1.34 a share, compared with an average estimate of $1.19. Adjusted sales gained 8 percent to $5.99 billion. Analysts had predicted revenue of $5.87 billion.
[...] The results help validate Mollenkopf's decision to acquire NXP Semiconductor Inc. for $47 billion -- the biggest purchase in the company's history, due to close later this year -- to ease Qualcomm's reliance on the smartphone market. The semiconductor maker said its licensing business, which generates the majority of profit, didn't receive full royalty payments associated with phones sold by Apple Inc., which is suing Qualcomm, claiming the company abused its position to create a monopoly in chips. Qualcomm has countersued.
(Score: 0) by Anonymous Coward on Friday April 21 2017, @11:40PM
I too worked at qcom.
I came in after the goldrush (2001). I also knew a lot of people who rode the stock all the way up then all the way down. They are not millionaires. Then again I knew a lot who were...
My assets as a millionaire are not because of qcom but because I saved and did not waste my money on toys but on assets that make me money.