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Qualcomm Earnings Rise

Qualcomm Inc. reported net income of $593 million on second-quarter revenue of $1.83 billion following the close of the market April 19. The quarter ended March 26.

In the year-ago quarter, the wireless technology company reported net income of $532 million on revenue of $1.37 billion.

Microchip shipments were up for a third consecutive quarter, the company said.

Looking ahead, Qualcomm said it expected fiscal 2006 revenue to be in the range of $7.1 billion-$7.4 billion, up from an earlier forecast of $6.7 billion-$7.1 billion. Qualcomm closed its last fiscal year with revenue of $5.67 billion.

Traded on Nasdaq, QCOM shares closed April 19 at $52.50 but were down 54 cents, or 1 percent, in after-hours trading.

, Brad Graves

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