Qualcomm Q3 Profit Meets Estimate; Lifts FY13 Earnings Outlook - Quick Facts

(RTTNews) - Qualcomm Inc. (QCOM) reported that its third-quarter net income attributable to the company was $1.58 billion or $0.90 per share, compared to $1.21 billion or $0.69 per share in the same quarter last year.

Non-GAAP net income for the quarter was $1.82 billion or $1.03 per share, compared to $1.49 billion or $0.85 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.03 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $6.24 billion from $4.63 billion in the prior year quarter, while thirty four analysts had consensus revenue estimate of $6.05 billion for the quarter.

For the fourth-quarter, the company expects GAAP earnings to be in the range of $0.86 - $0.94 per share, non-GAAP earnings of $1.02 - $1.10 per share, and revenues of $5.9 billion - $6.6 billion. Analysts currently expect the company to report earnings of $1.08 per share on revenues of $6.29 billion for the fourth quarter.

Looking ahead for fiscal 2013, the company now expects GAAP earnings per share to be $3.90 - $3.98 per share, and non-GAAP earnings of $4.48 - $4.56 per share. Earlier, the company had expected GAAP earnings of $3.78 - $3.93 per share, and Non-GAAP earnings of $4.40 - $4.55 per share for fiscal 2013.

The company raised its fiscal 2013 revenue outlook to a range of $24.3 billion - $25.0 billion, from the prior estimate of $24.0 billion - $25.0 billion.

Analysts currently expect the company to report earnings of $4.54 per share on revenues of $24.48 billion for fiscal 2013.