Qualcomm’s profits rise in the second quarter

US telecommunications equipment company Qualcomm announced that its profits for the second quarter of this fiscal year rose more than expected.

The company stated that its net profit during the second quarter amounted to $2.93 billion, equivalent to $2.57 per share, compared to $1.76 billion, equivalent to $1.53 per share, during the same period of the previous fiscal year.

The company’s profits, after excluding non-recurring items and putting seasonal variables in the account, amounted to $3.66 billion, equivalent to $3.21 per share, while analysts had expected earnings of $2.91 per share.

The company stated that its quarterly revenues increased by 40.6 percent to $11.66 billion, compared to $7.94 billion during the second quarter of the last fiscal year.

By Editor

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