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.
Qualcomm gapped open sharply lower Thursday and is now down 3.81 at $62.19 on above average volume. The stock has dropped to a 3-month low and has fallen below its 200-day moving average.
For comments and feedback: editorial@rttnews.com