QUALCOMM Incorporated reported unaudited consolidated earnings results for the first quarter ended December 28, 2014. For the quarter, the company reported total revenues of $7,099 million against $6,622 million a year ago. Operating income was $2,064 million against $1,493 million a year ago. Income from continuing operations before income taxes was $2,298 million against $1,757 million a year ago. Income from continuing operations was $1,971 million or $1.17 per diluted share against $1,444 million or $0.84 per diluted share a year ago. Net income attributable to the company was $1,972 million or $1.17 per diluted share against $1,875 million or $1.09 per diluted share a year ago. Net cash provided by operating activities was $2,364 million against $2,781 million a year ago. Capital expenditures were $253 million against $210 million a year ago. Non-GAAP operating income was $2.5 billion compared to $1.8 billion for the same period a year ago. Non-GAAP net income was $2.3 billion compared to $2.2 billion for the same period a year ago. Non-GAAP diluted earnings per share were $1.34 compared to $1.26 for the same period a year ago.

For the second quarter of fiscal year 2015, the company expects revenues of $6.5 billion to $7.1 billion. Non-GAAP diluted earnings per share are expected to be $1.28 to $1.40. GAAP diluted EPS is expected to be $1.08 to $1.20.

For the full fiscal year of 2015, the company expects revenues of $26.0 billion to $28.0 billion against $26.8 billion to $28.8 billion expected previously. Non-GAAP diluted earnings per share are expected to be $4.75 to $5.05 against $5.05 to $5.35 expected previously. GAAP diluted EPS is expected to be $4.04 to $4.34 against $4.33 to $4.63 expected previously. The company estimates that fiscal 2015 non-GAAP tax rate will be approximately 18%, slightly higher than original estimates on business mix. The company estimated fiscal 2015 operating margins will now be in the range of 16% to 18%, which reflects a reduction of about 200 basis points at the midpoint.

For the first quarter ended December 28, 2014, the company reported long-lived asset and goodwill impairment charges of $75 million against $460 million a year ago.