Qualcomm Q4 revenue up 13%

NEW DELHI: Smartphone chipmaker Qualcomm said that its revenue has increased 13 % to $6.2 billion for the fourth quarter fiscal 2016 due to strong demand from China.

The company's revenue has increased 13 % from $5.5 billion reported for the fiscal fourth quarter in 2015.

“Our fiscal fourth quarter EPS was above the high end of our expectations, reflecting new license agreements in China and strong chipset shipments,” said Steve Mollenkopf, CEO of Qualcomm Incorporated.

“We are forecasting continued growth of global 3G/4G device shipments in calendar year 2017, led by growing demand in emerging regions. We are well positioned to extend our mobile technology leadership and footprint into attractive growth opportunities, accelerated by our recently announced agreement to acquire NXP," he added.

Qualcomm reported $1.8 billion its operating income for the last quarter which marks a year-over-year increase of 58-percent from $1.1 billion.

Fourth Quarter Fiscal 2016