Qualcomm Inc. Q2 Profit Increases, Beats Estimates

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

The company's earnings totaled $2.81 billion, or $2.52 per share. This compares with $2.33 billion, or $2.06 per share, last year.

Excluding items, Qualcomm Inc. reported adjusted earnings of $3.17 billion or $2.85 per share for the period.

Analysts on average had expected the company to earn $2.82 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 16.9% to $10.979 billion from $9.389 billion last year.

Qualcomm Inc. earnings at a glance (GAAP) :

-Earnings: $2.81 Bln. vs. $2.33 Bln. last year. -EPS: $2.52 vs. $2.06 last year. -Revenue: $10.979 Bln vs. $9.389 Bln last year.

-Guidance: Next quarter EPS guidance: $2.60 - $2.80 Next quarter revenue guidance: $9.9B - $10.7B