Qualcomm: Fiscal Q2 Earnings Snapshot

SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported fiscal second-quarter profit of $2.33 billion.

The San Diego-based company said it had profit of $2.06 per share. Earnings, adjusted for one-time gains and costs, came to $2.44 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.30 per share.

The chipmaker posted revenue of $9.39 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $9.32 billion.

For the current quarter ending in June, Qualcomm expects its per-share earnings to range from $2.15 to $2.35.

The company said it expects revenue in the range of $8.8 billion to $9.6 billion for the fiscal third quarter.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QCOM at https://www.zacks.com/ap/QCOM

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