QUALCOMM Incorporated reported earnings results for the fourth quarter and full year ended September 28, 2014. For the quarter, the company reported total revenues of $6.69 billion against $6,480 million a year ago. Operating income was $1,992 million against $1,588 million a year ago. Net income was $1,894 million or $1.11 per diluted share against $1,501 million or $0.86 per diluted share a year ago. Non-GAAP operating income was $2,323 million against $1,940 million a year ago. Non-GAAP net income was $2,143 million or $1.26 per diluted share against $1,818 million or $1.05 per diluted share a year ago.

For the full year, the company reported total revenues of $26,487 million against $24,866 million a year ago. Operating income was $7,550 million against $7,230 million a year ago. Net income was $7,967 million against $6,853 million a year ago. Diluted earnings per share attributable to the company were $4.65 against $3.91 a year ago. Non-GAAP operating income was $8,933 million against $8,657 million a year ago. Non-GAAP net income was $9,032 million or $5.27 per diluted share against $7,911 million or $4.51 per diluted share a year ago. EBITDA was $9,347 million against $8,537 million a year ago. Income from continuing operations was $7,534 million against $6,845 million a year ago. Net cash provided by operating activities was $8,887 million against $8,778 million a year ago. Capital expenditures were $1,185 million against $1,048 million a year ago. Free cash flow was $7,702 million against $7,730 million a year ago. Non-GAAP net cash provided by operating activities was $9,195 million against $9,052 million a year ago. Non-GAAP capital expenditures were $1,185 million against $973 million a year ago. Non-GAAP free cash flow was $8,010 million against $8,079 million a year ago.

For the first quarter of 2015, the company expects revenues of $6.6 billion to $7.2 billion. Non-GAAP diluted earnings per share were expected to be $1.18 to $1.30. GAAP diluted EPS is expected to be $1.00 to $1.12.

For the full year of 2015, the company expects revenues of $26.8 billion to $28.8 billion. Non-GAAP diluted earnings per share are expected to be $5.05 to $5.35. Diluted loss attributable to the company is expected to be $0.01. GAAP diluted EPS is expected to be $4.33 to $4.63. Non-GAAP operating income is expected to be in between $9.2 billion to $10.0 billion. GAAP operating income is expected to be in between $7.8 billion to $8.6 billion. The company estimates non-GAAP tax rate to be approximately 17%, higher year-over-year due to business mix, the absence of the federal R&D tax credit and other unique items in 2014.