The New York Times-20080124-Qualcomm Reports Higher Earnings

Return to: The_New_York_Times-20080124

Qualcomm Reports Higher Earnings

Full Text (142  words)

Qualcomm, the wireless technology and chip supplier, posted a higher quarterly profit on Wednesday on demand for its mobile phone chips.

The company also gave a forecast for the current quarter in line with analysts' expectations.

Qualcomm posted a profit of $767 million, or 46 cents a share, for the period that ended Dec. 30, compared with $648 million, or 38 cents a share, in the year-ago quarter. Revenue rose 21 percent, to $2.44 billion.

For the current quarter, Qualcomm, based in San Diego, forecast earnings before items of 50 to 52 cents a share on revenue of $2.4 billion to $2.5 billion. That compares with current analyst estimates of a profit of 52 cents a share on revenue of $2.43 billion.

Qualcomm shares advanced 7.3 percent, to $39.30, in after-hours trading. In regular Nasdaq trading, they fell 29 cents, to $36.63.