Qualcomm raises forecasts on 3G sales

Qualcomm increased its expectations for the current quarter and fiscal year as demand for 3G chips rose. Qualcomm said it anticipates revenue for the quarter ending June 29 to be "slightly above" the higher end of the company's previous guidance of $2.5 billion to $2.7 billion. The company also expects quarterly earnings to reach 54 cents to 55 cents per share compared with its prior forecast of 50 cents to 52 cents per share.

"We are expecting another successful quarter driven by the continued global migration to 3G,'' CEO Paul Jacobs said. "March quarter reports by our licensees indicate an increased mix of high-end devices driving a higher average selling price.''

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