(RTTNews) - Qualcomm Inc. (QCOM) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $3.180 billion, or $2.83 per share. This compares with $2.767 billion, or $2.46 per share, last year.
Excluding items, Qualcomm Inc. reported adjusted earnings of $3.830 billion or $3.41 per share for the period.
Analysts on average had expected the company to earn $2.97 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 17.6% to $11.669 billion from $9.922 billion last year.
Qualcomm Inc. earnings at a glance (GAAP) :
-Earnings: $3.180 Bln. vs. $2.767 Bln. last year. -EPS: $2.83 vs. $2.46 last year. -Revenue: $11.669 Bln vs. $9.922 Bln last year.
-Guidance: Full year EPS guidance: $2.70 - $2.90 Full year revenue guidance: $10.2 - $11.0 Bln
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