Qualcomm: Fiscal Q3 Earnings Snapshot

SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported fiscal third-quarter net income of $2.13 billion.

The San Diego-based company said it had net income of $1.88 per share. Earnings, adjusted for one-time gains and costs, came to $2.33 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.25 per share.

The chipmaker posted revenue of $9.39 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $9.23 billion.

For the current quarter ending in September, Qualcomm expects its per-share earnings to range from $2.45 to $2.65.

The company said it expects revenue in the range of $9.5 billion to $10.3 billion for the fiscal fourth quarter.

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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