Qualcomms Q1 Profits Rise but Revenues Decline

Qualcomm has just announced their financial report for the first quarter of 2016. The company says overall chip shipments fell to 189 million, which helped to result in a 19% decrease in revenue to $5.6 billion. However, the company was able to increase profits by 11% to $1.16 billion, which was up from $1.05 billion in Q1 of last year.