SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported fiscal second-quarter earnings of $2.81 billion.
On a per-share basis, the San Diego-based company said it had profit of $2.52. Earnings, adjusted for one-time gains and costs, came to $2.85 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.83 per share.
The chipmaker posted revenue of $10.98 billion in the period. Its adjusted revenue was $10.84 billion, also topping Street forecasts. Eight analysts surveyed by Zacks expected $10.67 billion.
For the current quarter ending in June, Qualcomm expects its per-share earnings to range from $2.60 to $2.80.
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