Qualcomm's Q4 FY2014 earnings better than last year, but slips from last quarter

Qualcomm announced its fourth quarter earnings today and despite shipping more chips, earnings were down from the previous quarter. The main news from the earnings report is that the company is reporting net income of $1.89 billion on revenues of $6.69 billion. Revenues and income are both up year-over-year, but down from the previous quarter. In addition, Qualcomm's operating income rose to $1.99 billion, up 25 percent year-over-year, but also down 4 percent sequentially.

Some of the key take-aways from the report are that Qualcomm shipped 236 million MSM chips in Q4, that's up 24 percent from a year ago and an increase of 5 percent compared to last quarter.

Overall Qualcomm's outlook for 2015 is positive, with the company stating that China's market represents "significant opportunities."

If you want to dive in, you can find all of the details in the fourth quarter report.