RTTNews | Nov 3, 2021 04:08PM EDT

16:07 Wednesday, November 3, 2021 (RTTNews.com) - Qualcomm Inc. (QCOM) reported a profit for fourth quarter that dropped from the same period last year.

The company's profit came in at $2.80 billion, or $2.45 per share. This compares with $2.96 billion, or $2.58 per share, in last year's fourth quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $2.92 billion or $2.55 per share for the period.

Analysts had expected the company to earn $2.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.9% to $9.34 billion from $8.35 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q4): $2.92 Bln. vs. $1.67 Bln. last year.-EPS (Q4): $2.55 vs. $1.45 last year.-Analysts Estimate: $2.26-Revenue (Q4): $9.34 Bln vs. $8.35 Bln last year.

-Guidance:Next quarter EPS guidance: $2.90 - $3.10Next quarter revenue guidance: $10.0 - $10.8 Bln

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