Qualcomm Inc. (QCOM) reported second quarter non-GAAP net income of $1.17 per share after the bell Wednesday, up from $1.01 per share last year. The consensus estimate was for EPS of $1.16. The company expects to report third quarter non-GAAP EPS of $0.97 to $1.05 and between $4.40 and $4.45 for the full year 2013. The consensus estimates are for EPS of $1.04 and $4.53. The stock is now down 3.18 on 2.9 million shares.
Qualcomm gapped open higher Wednesday, but was range-bound throughout the session. The stock closed up by 0.65 at $66.00. Qualcomm rose to over a 1-week high and re-crossed its 50-day moving average.
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