Qualcomm Inc. (QCOM – Analyst Report) just released their first quarter fiscal 2016 earnings results, posting earnings of $0.85 and revenue of $5.775 billion.

Currently, QCOM has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Qualcomm:  

1. Beat earnings estimates. The company posted $0.85, surpassing our Zacks Consensus Estimate of $0.78. 

2. Beat revenue estimates. The company saw revenue figures of $5.775 billion, surpassing our estimate of $5.697 billion.

3. Reported net income of $1.5 billion.

4. “We delivered a stronger than expected quarter with earnings per share above the high end of our initial estimates, driven by better than expected 3G/4G reported device sales and benefits realized from cost actions across the Company,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We signed several new license agreements in China and are on track with our cost reduction initiatives. Design traction for our new Snapdragon 820 processor continues to be strong, and we expect improving trends in our chipset business in the second half of fiscal 2016.”

5. QCOM was down $0.80, or 1.68%, to $xx.xx as of 5:04 PM ET in after hours trading shortly after its earnings report was released.

Here is a graph of Qualcomm’s quarterly revenue totals since 2006:

Qualcomm Inc. (QCOM – Analyst Report) Quarterly Revenue | FindTheCompany

Qualcomm Inc. develops and delivers innovative digital wireless communications products and services based on the company’s CDMA digital technology. The company’s business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress. Qualcomm was founded in 1985 and is headquartered in San Diego, California.

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