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 dipped in early trade, before settling into a narrow range. The stock ended the session lower by 3.56 at $62.44 on the highest volume of the year. Qualcomm dropped to nearly a 3-month low.
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