Qualcomm’s fourth-quarter success has been attributed to the success of Apple’s iPhone. Their new report indicates that they beat forecasts mostly due to the iPhone 5.
According to Reuters, the iPhone 5 played a part in Qualcomm — one of the leading manufacturers and chip providers for handsets — beating Wall Street’s forecasts, making more than $4.87 billion in the last quarter.
Seeking Alpha showcased some of the results from the quarterly results in their own report, noting the following…
Revenue came in at $4.87B versus expectations of $4.66B. The company credited the revenue increase to the launch of the latest iPhone from Apple (AAPL) at the end of the quarter and the popularity of smartphones from Samsung.
Charter Equity Research analyst Ed Snyder says that both Apple and Samsung — with the iPhone 5 and Galaxy S3 moving big numbers — are both responsible for Qualcomm’s success this past quarter.