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Qualcomm Inc. Q1 adjusted earnings Beat Estimates

Qualcomm Inc. (QCOM) released earnings for its first quarter that climbed from last year.

The company's profit totaled $2.46 billion, or $2.12 per share. This compares with $0.93 billion, or $0.80 per share, in last year's first quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $2.51 billion or $2.17 per share for the period.

Analysts had expected the company to earn $2.1 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 62.2% to $8.24 billion from $5.08 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q1): $2.51 Bln. vs. $1.15 Bln. last year.
-EPS (Q1): $2.17 vs. $0.99 last year.
-Analysts Estimate: $2.1
-Revenue (Q1): $8.24 Bln vs. $5.08 Bln last year.

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