Qualcomm Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Qualcomm Inc. (QCOM) announced a profit for its third quarter that increased from the same period last year.

The company's profit totaled $2.1 billion, or $1.75 per share. This compares with $0.7 billion, or $0.55 per share, in last year's third quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $1.0 billion or $0.80 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 92.0% to $9.6 billion from $5.0 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q3): $1.0 Bln. vs. $1.5 Bln. last year. -EPS (Q3): $0.80 vs. $1.00 last year. -Analysts Estimate: $0.75 -Revenue (Q3): $9.6 Bln vs. $5.0 Bln last year.

-Guidance: Next quarter EPS guidance: $0.65 - $0.75 Next quarter revenue guidance: $4.3 - $5.1 Bln