QUALCOMM Inc. said its normalized net income for the fiscal first quarter ended Dec. 28, 2014, amounted to 91 cents per share, compared with the S&P Capital IQ consensus estimate of $1.25 per share.
EPS rose 8.9% year over year from 83 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.53 billion, a gain of 6.6% from $1.44 billion in the prior-year period.
The normalized profit margin fell to 21.4% from 21.7% in the year-earlier period.
Total revenue grew 7.2% on an annual basis to $7.10 billion from $6.62 billion, and total operating expenses climbed 6.4% from the prior-year period to $4.88 billion from $4.59 billion.
Reported net income increased 36.4% on an annual basis to $1.97 billion, or $1.17 per share, from $1.45 billion, or 84 cents per share.
