Qualcomm reported record revenues, earnings and chip shipment results for the first quarter of its 2012 fiscal year ending on 25 December 2011. The chipmaker reported revenue of US$4.68 billion – up 40 percent year-on-year – and net income of US$1.4 billion, up 20 percent year-on-year. It shipped 156 million chips, up 32 percent year-on-year and 23 percent sequentially. The company has also raised its revenue and earnings guidance due to the strong growth that its broad licensing partnerships and extensive chipset roadmap promises.