QUALCOMM Increases Financial Guidance

Citing vibrant consumer demand for 3G devices, QUALCOMM increased its financial guidance. The company now anticipates third fiscal quarter QUALCOMM pro forma revenues to be approximately $1.91 to $1.96 billion, with EPS to be approximately $0.41 to $0.42, compared to $0.28 in the year ago quarter.



This estimate is based on the shipment of approximately 55 million Mobile Station Modem (MSM) chips during the quarter compared to approximately 36 million in the year ago quarter and approximately 49 million in the prior quarter.



QUALCOMM expects third fiscal quarter pro forma revenues to be at or slightly above the high end of prior guidance of $1.77 to $1.87 billion.



"Consumer demand for third generation devices and services continues to be vibrant as operators offer compelling prices, services and devices," said Dr. Paul E. Jacobs, chief executive officer of QUALCOMM. "WCDMA handset shipments and average selling prices are exceeding our prior expectations. Demand for our CDMA2000 infrastructure chips, notably DO revision A, is exceptionally strong. This, combined with the ongoing movement to upgrade WCDMA networks to HSDPA, causes us to be encouraged by the forward market for 3G advanced devices and services."http://www.qualcomm.com