June 2009 -- The manufacturer of wireless products saw a 3% increase of revenue over last year. Revenues were $2.52 billion. Operating income, however, was down 2% year-over-year to $745 million.
Net income took a major hit, down 56% compared to last year, totaling $341 million.
"Despite weak economic conditions, wireless subscribers continue to migrate from second-generation to third-generation CDMA networks around the world. Our first quarter revenues were at the high end of prior guidance and operating income exceeded our prior guidance driven primarily by the mix of higher-end chipsets, higher-priced data capable devices and improved expense management," said Dr. Paul E. Jacobs, chief executive officer of Qualcomm.
