Qualcomm Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Qualcomm Inc. (QCOM) released earnings for its first quarter that climbed from last year.

The company's profit totaled $2.46 billion, or $2.12 per share. This compares with $0.93 billion, or $0.80 per share, in last year's first quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $2.51 billion or $2.17 per share for the period.

Analysts had expected the company to earn $2.1 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 62.2% to $8.24 billion from $5.08 billion last year.