SAN DIEGO (AP) — Qualcomm Inc. (QCOM) on Wednesday reported a fiscal fourth-quarter loss of $493 million, after reporting a profit in the same period a year earlier.
The San Diego-based company said it had a loss of 35 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 90 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The chipmaker posted revenue of $5.8 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5.53 billion.
For the current quarter ending in January, Qualcomm expects its per-share earnings to range from $1.05 to $1.15.
The company said it expects revenue in the range of $4.5 billion to $5.3 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $5.28 billion.
Qualcomm shares have fallen slightly more than 1 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 5 percent. In the final minutes of trading on Wednesday, shares hit $63.21, a decline of slightly more than 1 percent in the last 12 months.