Thursday, December 4, 2003
Qualcomm Inc. raised its quarterly earnings and revenue targets citing stronger-than-expected sales of its mobile phone chips and new rules that allow users to change services without switching their telephone numbers.
The company expects to post a fiscal first-quarter profit 47 or 48 cents a share, up from its target of 37 to 40 cents a month ago.
It expects revenue to rise 11 or 12 percent in the first quarter, compared with its earlier forecast of a decline of 1 to 6 percent. Wall Street analysts were expecting revenue to range between a decline of 10.5 percent to an increase of 6 percent.
By: DocMemory
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