The growing market for mobile devices is helping boost Qualcomm's earnings. Like most companies, Qualcomm has just reported their quarterly earnings and they are quite good. Unlike desktop chip manufacturers, Qualcomm is producing chips used in tablets and smartphones, the industry that is quickly taking over desktop products.
Qualcomm reported revenues of $6.12 billion, which is up 24 percent year-over-year. Profit came in at $2.07 billion, which is also up, though only by 17 percent. Qualcomm is looking to return $431 million to shareholders and expects third-quarter revenues and profits to be up 25 percent and 14 percent, respectively.