Qualcomm Raises Profit, Sales Estimates
From the Associated Press
Qualcomm Inc. raised its fiscal third-quarter profit and revenue estimates, saying cellphone handsets were fetching higher prices than it anticipated.
The wireless technology company said it expected to earn 35 cents to 36 cents a share in the quarter that ends June 25, up from its May estimate of 32 cents to 34 cents a share. Qualcomm earned 33 cents a share in the same period last year.
Qualcomm raised its revenue projection to $1.91 billion to $1.96 billion from its May estimate of $1.77 billion to $1.87 billion or slightly higher. The San Diego-based company posted revenue of $1.36 billion for the same period last year.
Shares of Qualcomm rose 65 cents to $41.84.
