Qualcomm Inc. (NASDAQ:QCOM) raised its sales and earnings forecasts for the second quarter, sending its shares about 9 percent higher. Qualcomm Inc, trades on the “NASDAQ” under the stock symbol “QCOM”. For More information regarding the "QCOM", make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Wireless chip maker Qualcomm Inc. (NASDAQ:QCOM) raised its sales and earnings forecasts for the second quarter, sending its shares about 9 percent higher in early stock market trade on Thursday.
The company, citing stronger than expected sales from its chipset and licensing businesses, forecast quarterly earnings to run between 56 cents and 58 cents a share, excluding items
"We now project earnings per share to be well above the high end of our prior guidance driven by strength in licensing revenues and favorable volume and product mix in our chipset business," Chief Executive Paul Jacobs said in a statement
Second quarter revenue, it said, should range between $2.55 billion and $2.65 billion. It had previously forecast a range of $2.40 billion to $2.60 billion, and analysts on average expected around $2.58 billion
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