Qualcomm Incorporated announced unaudited consolidated earnings results for the first quarter ended December 24, 2017. For the quarter, the company reported total revenues of $6,068 million against $5,999 million a year ago. Operating income was $29 million against $778 million a year ago. Loss before income taxes was $27 million against income of $870 million a year ago. Net loss attributable to the company was $5,953 million or $4.03 basic and diluted per share against net income of $682 million or $0.46 diluted per share a year ago. Net cash provided by operating activities was $1,762 million against $1,586 million a year ago. Capital expenditures were $226 million against $129 million a year ago. On non-GAAP basis, the company reported revenues of $6.0 billion against $6.0 billion a year ago. Operating income was $1.6 billion against $2.1 billion a year ago. Net income was $1.5 billion or $0.98 diluted per share against $1.8 billion or $1.19 diluted per share a year ago.

The company provided earnings guidance for the second quarter and full year of fiscal 2018. For the quarter, the company expects revenues in the range of $4.8 billion - $5.6 billion, GAAP diluted earnings per share in the range of $0.41 - $0.51, non-GAAP diluted EPS in the range of $0.65 - $0.75.

The company's fiscal 2018 annual effective income tax rates are estimated to be 297% for GAAP and 8% for Non-GAAP.