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Tuesday, Sep 27, 2022
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Qualcomm Increases Forecast

Qualcomm Inc. says it will make $100 million more in its second quarter ending April 1 than it expected, thanks to the success of its Mobile Station Modem chips.

The digital wireless communications giant had estimated second-quarter revenues of between $2 billion and $2.1 billion. But on March 13, the Fortune 500 company increased its guidance to between $2.1 billion and $2.2 billion.

The company expects to sell between 60 million and 61 million chips by the end of the quarter compared with a prior estimate of between 55 million and 57 million chips.

In other news, the company said it planned to increase its quarterly dividend from 12 cents to 14 cents per share.

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The company made both announcements before the stock market opened. Shares, traded as QCOM on the Nasdaq, closed March 13 at $41.83, up $1.71, or more than 4 percent, from the previous day’s close.

, Katie Weeks

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