How Qualcomm revenue performed in first quarter fiscal 2016

Qualcomm revenue in Q1 2016Chipset maker Qualcomm today announced results for its fiscal first quarter ended December 27, 2015.

Qualcomm revenue rose 6 percent to $5.8 billion —  driven by better than expected 3G / 4G device sales.

Steve Mollenkopf, CEO of Qualcomm, said: “We signed several new license agreements in China and are on track with our cost reduction initiatives. Design traction for our new Snapdragon 820 processor continues to be strong, and we expect improving trends in our chipset business in the second half of fiscal 2016.”

Qualcomm, according to its revenue guidance, is expected to clock revenue of $4.9 billion – $5.7 billion in Q2 2016 against $6.9 billion in the same period last year.