SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported fiscal fourth-quarter earnings of $1.49 billion.
On a per-share basis, the San Diego-based company said it had profit of $1.32. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.02 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The chipmaker posted revenue of $8.63 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $8.55 billion.
For the current quarter ending in December, Qualcomm expects its per-share earnings to range from $2.25 to $2.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.18.
The company said it expects revenue in the range of $9.1 billion to $9.9 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $11.85 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QCOM at https://www.zacks.com/ap/QCOM
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