Thank you, John, and good afternoon, everyone. We are pleased to report strong results this quarter. Fiscal second quarter non-GAAP earnings per share were $0.14 above the midpoint of our prior guidance range, reflecting a continued focus on operational performance across the businesses.
Our semiconductor business continues to benefit from both a strong product roadmap, perhaps the strongest in our Company's history as well as industry trends that bode well for our ability to further grow the semiconductor business outside of handsets. Automotive, networking and IoT were particularly strong this quarter. Several of these product lines became part of QUALCOMM largely through M&A and will be further strengthened with the upcoming addition of NXP. Our QCT business continues to deliver a broad set of industry leading products, positioning us well for the opportunities ahead. We delivered strong topline results this quarter and operating margins were ahead of expectations.
Our partners are already announcing new premium tier devices based on our new Snapdragon 835 mobile platform including the Samsung Galaxy S8 and S8+, Sony Xperia XZ premium and the Xiaomi Mi 6. Additionally, the 835 is extending to new categories beyond smartphones such as the ODR or ODG AR smart glasses announced at CES. Our high and mid-tier Snapdragon 600 and 400 platform offerings continued to see high adoption, particularly in China with 200 plus devices and design in the 600-tier and 190 plus devices and design in the 400-tier worldwide.
In March, we announced our 205 mobile platforms designed to bring 4G LTE connectivity and 4G services for entry level feature phones and we expect OEM devices to be announced starting this quarter. The increasing number of gigabit LTE operator launches around the world this year validates our early investment and enabling gigabit speeds across 4G networks and our modem roadmap continues to be more than a generation ahead of the competition. Telstra launched the world's first gigabit LTE network and device earlier this year and all four major U.S. carriers have announced plans to launch gigabit LTE in 2017. Our Snapdragon X16 gigabit LTE modem was featured in February in a live demo of the Sony Xperia XZ premium and more recently versions of the Samsung Galaxy S8 including in North America, China and Japan also featured gigabit LTE based on the Snapdragon 835. We continue to lead the industry to 5G through our 3GPP leadership, ongoing prototype efforts, announcements of meaningful 5G new radio trials as well as our industry first X50 5G modem. In February, we demonstrated the first 3GPP based 5G new radio connection and announced the extension of our Snapdragon X50 family of 5G modems to include support for the global 5G NR standard across the millimeter wave and sub-6 gigahertz frequency bands, along with backwards compatibility for 2G, 3G, 4G, including gigabit LTE. We expect commercial products to be available to support the first large scale 5G NR trials and commercial network launches starting in 2019.
Turning to QTL, the licensing business had a strong quarter. Total reported device sales were a record driven by strong 3G/4G unit shipments and higher than expected ASPs. QTL results were in line with expectations as the stronger market and improved licensing in China offset the impact of a new dispute with a licensee. During the quarter, we returned approximately $1.1 billion to stockholders through dividends and stock repurchases. We also announced a 7.5% increase in our quarterly cash dividend now at $2.28 per share annually reflecting our confidence in the strength of our ongoing cash flows and future earnings growth. During the quarter, we closed on our joint venture with TDK, which is an important strategic milestone to grow our portfolio of RF front-end products and technologies. I am very pleased that we now have all the critical components to build industry-leading RF modules across tiers and to compete in the total RF front-end service available market. We also received U.S. regulatory clearance for our pending acquisition of NXP. We remain on track to close the transaction this calendar year and integration planning continues across both companies.
Looking ahead, the adoption of mobile technologies and mobile computing is accelerating around the world. Our broad and growing set of technologies and innovations are fundamental to mobile communications and are enabling entirely new business models and ecosystems. This trend will continue for years to come as advanced 4G, 5G and other mobile technologies expand their footprint into new industries. Looking across the growing set of new industries embracing mobile technologies, we have more opportunities ahead of us than it any time in the Company's history.
Against this backdrop, we have had a series of legal and regulatory challenges that have unfortunately overshadowed otherwise strong operating performance at QUALCOMM. We have successfully navigated challenges like this in the past and we have confidence in the sustainability of our licensing business. But we know these periods can generate added volatility in near-term results and require open and regular dialogue with our investors, which is something we are fully committed to providing. While we work to conclude the right deals that will deliver long-term value to our shareholders. Most importantly, we will remain focused on investing to lead innovation in key mobile and related technologies as that has always been the core of what's placed us in this unique and unmatched leadership position. While Derek will provide more details on the recent legal challenges, we have taken several specific steps to address the KFTC and FTC matters during the last quarter. And last week, we filed our answer and counterclaims in the Apple litigation here in Southern California. It is important to remember that ultimately this is about a contract dispute and business negotiation and we will work to reach the right resolution for our shareholders as we have done so often throughout our history. Further, the Company will continue to focus on developing and delivering the best products to our customers including Apple consistent with our track record to-date. We are optimistic about the speed of innovation in the modem and RF areas with technologies such as gigabit LTE, 5G NR, multimode and millimeter wave becoming increasingly important. Considering the strength of both our product roadmap in R&D investments, we expect to continue to be an important supplier to Apple now and into the future. As we continue towards the closing of our pending acquisition of NXP later this year, I thought it would be good to review some of the larger growth opportunities that will be enabled by our unique collection of technologies, sales channels and scale for the interconnected world. First, we will lead in 5G. 5G is the interconnecting fabric for the connected world and will drive not only an upgrade cycle in mobile, but will also enable new industries to take advantage of the mobile ecosystem. We will continue to work closely with global infrastructure vendors and operators on 5G NR trials to drive the mobile ecosystem toward validation and timely commercialization of 5G NR. To-date, we have announced 5G NR trials with SKT and Ericsson in Korea, AT&T and Ericsson in the United States, ZTE and China Mobile in China, Telstra and Ericsson in Australia, and Vodafone and Ericsson in Europe. The interoperability testing and trials are planned to launch in the second half of 2017. Second, we will grow our content in the device with our expanding RF front-end capabilities. We have taken a big step forward in closing the RF360 JV to transform this business and we also have already started delivering our first gallium arsenide PAs. As we move to 5G, the device will become more complex from an RF point of view as massive MIMO and multi-element arrays exist on many devices and our unique ability to provide solutions across the baseband and RF will become even more important to our customers. Third, automotive will continue to be a source of growth and we are winning more than just the telematics systems. Our automotive solutions, including cellular, Wi-Fi, Bluetooth and infotainment SoCs have been adopted by every major global automaker. Our Snapdragon, automotive infotainment platforms have won new designs at 12 of the top 25 global automaker brands. This strong design pipeline shows the strength of our computing solutions in the automotive market and represents an opportunity to sell multiple Snapdragons per car. With the addition of NXP, the opportunity to grow content in the car increases dramatically and we will be uniquely positioned for ADAS and autonomous driving, a large multi-decade mega trend that is just starting.
You will be hearing more from us on this important topic in the future. Fourth, IoT will drive meaningful growth across a broad range of opportunities. Success in these opportunities will be defined by the ability to combined connectivity, computing and security along with a broad channel to serve not only industrial verticals, but a long tail of customers to deliver high complexity products and platforms that are easy for our customers to use and integrate. Here again the acquisition of NXP will uniquely position us with IoT systems solutions and channels and builds on the success we are seeing in the business today.
Fifth, we have an opportunity to disrupt the existing suppliers of the PC and the datacenter. Our Snapdragon 835 is expanding into Mobile PC designs running Windows 10, which are scheduled to launch in the fourth calendar quarter this year. In the data center, we announced the collaboration with Microsoft and demonstrated Windows Server Running on our 10 nanometer Qualcomm Centriq processors, the first 10 nanometer server processors in the industry. To close, we are very focused on resolving the challenges to our licensing business and business model and we are confident we will be able to successfully navigate through this environment. At the same time, this is an extremely exciting and transformative time for our Company as the technologies and products are well positioned to expand into a growing set of opportunities and will be further enhanced with the completion of our pending acquisition of NXP. I would now like to turn the call over to Derek.