"We are pleased to report record quarterly revenues, Non-GAAP EPS and MSM chip shipments, driven by the growing global demand for smartphones and our industry-leading portfolio of 3G/LTE chipsets," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "Our broad licensing partnerships and extensive chipset roadmap, including our recently announced best-in-class Qualcomm Snapdragon 800 and 600 processors, position us well for strong growth, and we are pleased to be raising our revenue and earnings guidance for fiscal 2013.

"First Quarter Results (GAAP)
Revenues: 1 $6.02 billion, up 29 percent year-over-year (y-o-y) and 24 percent sequentially.
Operating income: 1 $2.09 billion, up 35 percent y-o-y and 69 percent sequentially.
Net income: 2 $1.91 billion, up 36 percent y-o-y and 50 percent sequentially.
Diluted earnings per share: 2 $1.09, up 35 percent y-o-y and 49 percent sequentially.
Effective tax rate: 1 18 percent for the quarter.
Operating cash flow: $1.98 billion, up 11 percent y-o-y; 33 percent of revenues.
Return of capital to stockholders: $678 million, including $428 million, or $0.25 per share, of cash dividends paid, and $250 million through repurchases of 4.3 million shares of common stock.

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