Qualcomm Inc. Q4 Profit Increases, Beats Estimates

(RTTNews) - Qualcomm Inc. (QCOM) revealed earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $2.92 billion, or $2.59 per share. This compares with $1.49 billion, or $1.32 per share, in last year's fourth quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $3.03 billion or $2.69 per share for the period.

Analysts on average had expected the company to earn $2.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.7% to $10.244 billion from $8.631 billion last year.

Qualcomm Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $2.92 Bln. vs. $1.49 Bln. last year. -EPS (Q4): $2.59 vs. $1.32 last year. -Revenue (Q4): $10.244 Bln vs. $8.631 Bln last year.