SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported fiscal third-quarter net income of $2.67 billion.
The San Diego-based company said it had profit of $2.43 per share. Earnings, adjusted for one-time gains and costs, were $2.77 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.
The chipmaker posted revenue of $10.37 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $10.38 billion.
For the current quarter ending in September, Qualcomm expects its per-share earnings to range from $2.75 to $2.95.
The company said it expects revenue in the range of $10.3 billion to $11.1 billion for the fiscal fourth quarter.
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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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