SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported fiscal second-quarter earnings of $7.37 billion.
The San Diego-based company said it had profit of $6.88 per share. Earnings, adjusted for non-recurring gains, came to $2.65 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.
The chipmaker posted revenue of $10.6 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $10.62 billion.
For the current quarter ending in June, Qualcomm expects its per-share earnings to range from $2.10 to $2.30.
The company said it expects revenue in the range of $9.2 billion to $10 billion for the fiscal third quarter.
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