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SAN DIEGO (AP) — SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported fiscal fourth-quarter net income of $2.92 billion.
The San Diego-based company said it had net income of $2.59 per share. Earnings, adjusted for one-time gains and costs, were $2.69 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.56 per share.
The chipmaker posted revenue of $10.24 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $9.9 billion.
For the year, the company reported profit of $10.14 billion, or $8.97 per share. Revenue was reported as $38.94 billion.
For the current quarter ending in December, Qualcomm expects its per-share earnings to range from $2.85 to $3.05.
The company said it expects revenue in the range of $10.5 billion to $11.3 billion for the fiscal first quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QCOM at https://www.zacks.com/ap/QCOM