SAN DIEGO (AP) _ Qualcomm Inc. (QCOM) on Wednesday reported fiscal second-quarter net income of $2.93 billion.

The San Diego-based company said it had profit of $2.57 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $3.21 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.91 per share.

The chipmaker posted revenue of $11.16 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $10.58 billion.

For the current quarter ending in July, Qualcomm expects its per-share earnings to range from $2.75 to $2.95. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.55.

The company said it expects revenue in the range of $10.5 billion to $11.3 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $9.9 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QCOM at https://www.zacks.com/ap/QCOM

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