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Qualcomm Inc. Q2 Profit Increases, beats estimates

Qualcomm Inc. (QCOM) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $2.93 billion, or $2.57 per share. This compares with $1.76 billion, or $1.53 per share, in last year's second quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $3.66 billion or $3.21 per share for the period.

Analysts on average had expected the company to earn $2.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 40.6% to $11.16 billion from $7.94 billion last year.

Qualcomm Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $2.93 Bln. vs. $1.76 Bln. last year.
-EPS (Q2): $2.57 vs. $1.53 last year.
-Analyst Estimate: $2.91
-Revenue (Q2): $11.16 Bln vs. $7.94 Bln last year.

-Guidance:
Next quarter EPS guidance: Adj; $2.75 - $2.95
Next quarter revenue guidance: $10.5 - $11.3 Bln

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