Qualcomm Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Qualcomm Inc. (QCOM) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $2.33 billion, or $2.06 per share. This compares with $1.70 billion, or $1.52 per share, in last year's second quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $2.76 billion or $2.44 per share for the period.

Analysts on average had expected the company to earn $2.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.8% to $9.34 billion from $9.27 billion last year.

Qualcomm Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $2.33 Bln. vs. $1.70 Bln. last year. -EPS (Q2): $2.06 vs. $1.52 last year. -Revenue (Q2): $9.34 Bln vs. $9.27 Bln last year.