Qualcomm raises its financial outlook

Qualcomm has raised its financial outlook for the first quarter next year, revenues will come in at the high end of its originally forecasted range of $2.3 to $2.4 billion, up from $2.02 billion during the first quarter of 2007. Earnings per share will come to between $0.52 and $0.53, up from $0.43 in the year ago quarter. Qualcomm has shipped about 78 million Mobile Station Modem (MSM) chips during the quarter, which is again on the high end of the estimated range of 74 to 78 million units. Qualcomm expects shipments of about 95 million CDMA units at an estimated average selling price of approximately $211, compared to our prior estimate of approximately 95 to 98 million units at an average selling price of approximately $212.

For more on Qualcomm's more bullish outlook:
- read this press release