Qualcomm Inc. Q3 Profit Increases, Beats Estimates

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

The company's earnings totaled $2.13 billion, or $1.88 per share. This compares with $1.803 billion, or $1.60 per share, in last year's third quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $2.65 billion or $2.33 per share for the period.

Analysts on average had expected the company to earn $2.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $9.393 billion from $8.451 billion last year.

Qualcomm Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $2.13 Bln. vs. $1.803 Bln. last year. -EPS (Q3): $1.88 vs. $1.60 last year. -Revenue (Q3): $9.393 Bln vs. $8.451 Bln last year.

-Guidance: Next quarter EPS guidance: $2.38-$2.58 Next quarter revenue guidance: $9.5-$10.3 Bln