Key takeaways from Qualcomm’s earnings report:
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Phone chip sales rose 16% year over year to $6.69 billion.
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Net income increased 24% to $2.77 billion.
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Qualcomm is investing heavily in selling chips to automakers and suppliers.
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Qualcomm is also investing in other markets such as PCs and virtual reality headsets.
Experts say Qualcomm’s strong earnings report is “a positive sign for the company and the entire semiconductor industry.” CNBC writes that the company’s focus on entering new markets is also a smart move, as it will help diversify its revenue streams and reduce its dependence on the smartphone market.
Source: Ferra
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