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Qualcomm raises quarterly outlook

June 13, 2008|From Times Wire Services

Qualcomm Inc. increased its third-quarter sales and profit forecasts as customers upgrade to more powerful handsets, which the company makes chips for. Shares rose 5.8%, the most in five months.

Earnings will rise to as much as 55 cents a share, excluding some costs, beating a goal of up to 52 cents, San Diego-based Qualcomm said. Revenue in the quarter ending June 29 will be "slightly above the high end" of its estimate for as much as $2.7 billion.

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