Qualcomm raises guidance for Q3

Qualcomm said it expects its fiscal third-quarter results to be at or slightly above the high-end of prior guidance management gave of about $1.77 billion to $1.87 billion in pro forma revenue. Qualcomm said it is shipping about 53 million to 56 million MSM chips compared with previous guidance of 50 million to 53 million. "The increase in our guidance reflects stronger than expected new orders for our very low-tier chipsets as well as increased demand for 1xEV-DO chipsets," said Qualcomm CEO Paul Jacobs.

To read more about Qualcomm's increased guidance:
- take a look at this release from the company