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EXHIBIT 11.1
QUALCOMM INCORPORATED
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED NINE MONTHS ENDED
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JUNE 29, JUNE 30, JUNE 29, JUNE 30,
1997 1996 1997 1996
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Net income (1) $ 35,945 $ 1,506 $ 61,816 $ 13,085
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Weighted average number of common shares
outstanding
67,567 65,738 67,124 65,252
Common stock equivalent shares (2) 5,127 5,000 4,934 4,776
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Total number of shares for computing primary
earnings per share
72,694 70,738 72,058 70,028
Incremental shares for computing fully diluted
earnings per share (3)
-- 959 312 339
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Total number of shares for computing fully diluted
earnings per share
72,694 71,697 72,370 70,367
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Primary earnings per share $ 0.49 $ 0.02 $ 0.86 $ 0.19
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Fully diluted earnings per share (4) $ 0.49 $ 0.02 $ 0.85 $ 0.19
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(1) The Company's fiscal quarter ended on the last Sunday of June.
(2) Includes outstanding options and warrants for common stock.
(3) The incremental shares for fully diluted earnings per share reflects the
dilutive effect of stock options and warrants at the higher of the
average or ending market price during the reporting period.
(4) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although not required by APB Opinion No. 15 because it
results in dilution of less than 3%.
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