Qualcomm Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Qualcomm Inc. (QCOM) released a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $1.49 billion, or $1.32 per share. This compares with $2.87 billion, or $2.54 per share, in last year's fourth quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $2.78 billion or $2.02 per share for the period.

Analysts on average had expected the company to earn $1.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 24.3% to $8.63 billion from $11.40 billion last year.

Qualcomm Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $1.49 Bln. vs. $2.87 Bln. last year. -EPS (Q4): $1.32 vs. $2.54 last year. -Analyst Estimates: $1.80 -Revenue (Q4): $8.63 Bln vs. $11.40 Bln last year.