Qualcomm Raises Profit, Sales Outlook

Qualcomm Inc., the world’s No. 2 maker of microchips that run mobile telephones, boosted its second-quarter profit forecast by about a third because of increasing demand for phones based on its technology.

Earnings will rise to as much as 49 cents a share from 13 cents a year earlier and up from a previous forecast of as much as 37 cents, Qualcomm said. Sales may climb 15%, almost twice the rate previously forecast.

Qualcomm expects to ship 32 million chips this quarter, half of what it delivered in all of 2002, as demand for phones with color screens and cameras grows.

Shares of San Diego-based Qualcomm jumped $3.03, or 5.1%, to $62.43 on Nasdaq.