Qualcomm raises 3Q guidance

Qualcomm continued its pattern of raising its earnings forecast during the quarter, saying strong demand for chips used in W-CDMA handsets and 1x EV-DO infrastructure will push earnings higher. In the third quarter ending June 25, Qualcomm expects to earn 41 cents to 42 cents a share, adjusted for one-time items, on revenue of $1.91 billion to $1.96 billion. This is compared with its previous forecast of pro forma earnings of 38 cents to 40 cents a share on revenue of $1.77 billion to $1.87 billion. Wall Street had been forecasting a profit of 40 cents a share, according to the average of analysts surveyed by Thomson First Call. Qualcomm is dominating the W-CDMA handset chip market.

For more about Qualcomm's adjusted earnings forecast for the third quarter:
- check out this release from the company
- read this article from Dow Jones