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Qualcomm Inc. Q3 adjusted earnings Beat Estimates

Qualcomm Inc. (QCOM) revealed a profit for third quarter that declined from last year.

The company's earnings came in at $0.85 billion, or $0.74 per share. This compares with $2.15 billion, or $1.75 per share, in last year's third quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $982 million or $0.86 per share for the period.

Analysts had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 49.3% to $4.89 billion from $9.64 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q3): $982 Mln. vs. $982 Mln. last year.
-EPS (Q3): $0.86 vs. $0.80 last year.
-Analysts Estimate: $0.71
-Revenue (Q3): $4.89 Bln vs. $9.64 Bln last year.

Next quarter EPS guidance: $1.05 - $1.25
Next quarter revenue guidance: $7.3 - $8.1 Bln

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