Qualcomm: Fiscal Q1 Earnings Snapshot

SAN DIEGO (AP) _ Qualcomm Inc. (QCOM) on Thursday reported fiscal first-quarter earnings of $2.24 billion.

The San Diego-based company said it had profit of $1.98 per share. Earnings, adjusted for one-time gains and costs, were $2.37 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.

The chipmaker posted revenue of $9.46 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $9.56 billion.

For the current quarter ending in March, Qualcomm expects its per-share earnings to range from $2.05 to $2.25. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.18.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a QCOM">Zacks stock report on QCOM at https://www.zacks.com/ap/QCOM