Qualcomm Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Qualcomm Inc. (QCOM) released earnings for first quarter that declined from the same period last year.

The company's profit came in at $925 million, or $0.80 per share. This compares with $1068 million, or $0.87 per share, in last year's first quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $1.15 billion or $0.99 per share for the period.

Analysts had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $5.08 billion from $4.84 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q1): $1.15 Bln. vs. $1.46 Bln. last year. -EPS (Q1): $0.99 vs. $1.20 last year. -Analysts Estimate: $0.85 -Revenue (Q1): $5.08 Bln vs. $4.84 Bln last year.

-Guidance: Next quarter EPS guidance: $0.80 - $0.95 Next quarter revenue guidance: $4.9 - $5.7 Bln