Qualcomm reports record Q1, beats estimates with $4.68B in revenue and raises outlook

. Qualcomm on Wednesday reported record earnings for the first quarter of fiscal 2012. The company took in $4.68 billion in revenue, up 40% year-over-year and 14% sequentially, beating Wall Street's estimate of $4.58 million. Qualcomm's net income of $1.4 billion was up 20% year-over-year and 25% over the fourth quarter. The firm also managed earnings of $0.97 per share, up 18% year-over-year and ahead of the Street's EPS estimate of $0.90. Qualcomm boosted guidance for the full year, saying it expects to report between $18.7 billion and $19.7 billion in revenue for 2012.

Boy Genius Report, Qualcomm reports record Q1, beats estimates with $4.68B in revenue and raises outlook