Qualcomm Inc. Reports 35% Fall In Q1 Earnings

(RTTNews) - Qualcomm Inc. (QCOM) reported earnings for first quarter that decreased from last year.

The company said its profit declined to $1.47 billion, or $0.97 per share. This was lower than $2.26 billion, or $1.34 per share, in last year's first quarter.

Analysts had expected the company to earn $0.90 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 18.7% to $5.77 billion. This was down from $7.10 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q1): $1.47 Bln. vs. $2.26 Bln. last year. -Earnings Decline (Y-o-Y): -35.0% -EPS (Q1): $0.97 vs. $1.34 last year. -EPS Decline (Y-o-Y): -27.6% -Analysts Estimate: $0.90 -Revenue (Q1): $5.77 Bln vs. $7.10 Bln last year. -Revenue Change (Y-o-Y): -18.7%

-Guidance: Next quarter EPS guidance: $0.90 - $1.00 Next quarter revenue guidance: $4.9 - $5.7 Bln