EXHIBIT 11.1
QUALCOMM INCORPORATED
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED SIX MONTHS ENDED
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MARCH 30, MARCH 31, MARCH 30, MARCH 31,
1997 1996 1997 1996
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Net income (1) $ 16,745 $ 1,465 $ 25,871 $ 11,579
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Weighted average number of common shares
outstanding 67,225 65,262 66,903 65,009
Common stock equivalent shares (2) 5,596 4,896 4,837 4,664
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Total number of shares for computing primary
earnings per share 72,821 70,158 71,740 69,673
Incremental shares for computing fully diluted
earnings per share (3) 937 - 468 29
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Total number of shares for computing fully
diluted earnings per share 73,758 70,158 72,208 69,702
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Primary earnings per share $ 0.23 $ 0.02 $ 0.36 $ 0.17
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Fully diluted earnings per share (4) $ 0.23 $ 0.02 $ 0.36 $ 0.17
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(1) The Company's fiscal quarter ended on the last Sunday of March.
(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%.