Qualcomm Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Qualcomm Inc. (QCOM) released a profit for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $3.73 billion, or $3.29 per share. This compares with $2.03 billion, or $1.77 per share, in last year's third quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $3.36 billion or $2.96 per share for the period.

Analysts on average had expected the company to earn $2.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 35.7% to $10.94 billion from $8.06 billion last year.

Qualcomm Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $3.73 Bln. vs. $2.03 Bln. last year. -EPS (Q3): $3.29 vs. $1.77 last year. -Analyst Estimate: $2.87 -Revenue (Q3): $10.94 Bln vs. $8.06 Bln last year.

-Guidance: Full year EPS guidance: $3.00 - $3.30 Full year revenue guidance: $11.0B - $11.8 Bln