SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported a loss of $3.12 billion in its fiscal fourth quarter.
The San Diego-based company said it had a loss of $2.89 per share. Earnings, adjusted for non-recurring costs and stock option expense, were $3 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.88 per share.
The chipmaker posted revenue of $11.27 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $10.79 billion.
For the year, the company reported profit of $5.54 billion, or $5.01 per share. Revenue was reported as $44.28 billion.
For the current quarter ending in December, Qualcomm expects its per-share earnings to range from $3.30 to $3.50.
The company said it expects revenue in the range of $11.8 billion to $12.6 billion for the fiscal first 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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