Qualcomm Incorporated announced unaudited consolidated earnings results for the first quarter ended December 25, 2016. For the quarter, the company reported total revenues of $5,999 million against $5,775 million a year ago. Operating income was $778 million against $1,685 million a year ago. Income before income taxes was $870 million against $1,710 million a year ago. Net income attributable to the company was $682 million or $0.46 basic and diluted per share against $1,498 million or $0.99 diluted per share a year ago. Net cash provided by operating activities was $1,379 million against $2,739 million a year ago. Capital expenditures were $129 million against $128 million a year ago. On non-GAAP basis, the company reported revenues of $6.0 billion against $5.8 billion a year ago. Operating income was $2.1 billion against $1.7 billion a year ago. Net income was $1.8 billion or $1.19 diluted per share against $1.5 billion or $0.97 diluted per share a year ago.

The company provided earnings guidance for the second quarter and full year of fiscal 2017. For the quarter, the company expects revenues in the range of $5.5 billion - $6.3 billion, GAAP diluted earnings per share in the range of $0.89 - $0.99, non-GAAP diluted EPS in the range of $1.15 - $1.25 and total reported device sales approximately in the range of $74.0 billion - $82.0 billion.

The company's fiscal 2017 annual effective income tax rates are estimated to be approximately 22% for GAAP and 18% for Non-GAAP.

The company announced indefinite and long-lived asset impairment charges for the first quarter ended December 25, 2016. For the quarter, the company reported $32 million against $2 million a year ago.