Qualcomm Inc. Q2 adjusted earnings Beat Estimates

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

The company's profit totaled $0.4 billion, or $0.24 per share. This compares with $0.7 billion, or $0.50 per share, in last year's second quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $1.2 billion or $0.80 per share for the period.

Analysts had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.3% to $5.2 billion from $6.0 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q2): $1.2 Bln. vs. $2.0 Bln. last year. -EPS (Q2): $0.80 vs. $1.34 last year. -Analysts Estimate: $0.70 -Revenue (Q2): $5.2 Bln vs. $6.0 Bln last year.

-Guidance: Next quarter EPS guidance: $0.65 - $0.75 Next quarter revenue guidance: $4.8B - $5.6B