Qualcomm Inc. Announces 34% Fall In Q2 Bottom Line

(RTTNews) - Qualcomm Inc. (QCOM) reported a profit for second quarter that retreated from last year.

The company said its earnings fell to $1.55 billion, or $1.04 per share. This was lower than $2.34 billion, or $1.40 per share, in last year's second quarter.

Analysts had expected the company to earn $0.96 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 19.6% to $5.54 billion. This was down from $6.89 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q2): $1.55 Bln. vs. $2.34 Bln. last year. -Earnings Decline (Y-o-Y): -33.8% -EPS (Q2): $1.04 vs. $1.40 last year. -EPS Decline (Y-o-Y): -25.7% -Analysts Estimate: $0.96 -Revenue (Q2): $5.54 Bln vs. $6.89 Bln last year. -Revenue Change (Y-o-Y): -19.6%

-Guidance: Next quarter EPS guidance: $0.90 - $1.00 Next quarter revenue guidance: $5.2 - $6.0 Bln