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Qualcomm, gains as mobile chip soars in demand!

Qualcomm Inc. posted record quarterly revenue as it gained market share on rivals!

Qualcomm reported revenue from chips for handsets rose 56% to $6.33 billion, and its chips for internet-connected smart devices went up 61% to $1.72 billion. sales rose 41% to $339 million

Qualcomm a leading supplier of chips for phones, cars and other devices, reported sales of $11.16 billion, for its fiscal quarter ended in March, generating $2.9 billion in net income.

Its sales guidance for the current quarter also came in ahead of the $10.03 billion analysts and FactSet were expecting.

*Qualcomm earnings conference tweet

The company’s chips, feature in three-quarters of Samsung Electronics Co.’s newest smartphones, the Galaxy S22, up from 40% of previous-generation phones, he said. Chief Executive Cristiano Amon said

The higher-than-expected sales came despite an 11% fall in global smartphone shipments in the first quarter, according to a Bernstein Research.

Qualcomm has benefited from a surge in demand for smartphones and other electronics needed to support remote teaching and working from home. Qualcomm’s sales more than doubled since before the pandemic. WSJ Reports


best-known for its smartphone chips, recently has broaden its reach under Mr. Amon, who took over as CEO last year.

The company reported that its internet-of-things and automotive businesses grew at a rapid clip in the first quarter, boosting its results.