Qualcomm Inc. upped its guidance for the coming quarter based on what the company said were stronger-than-expected sales of CDMA chips throughout North America, Latin America and the rest of the world, as well as success with its EV-DO and W-CDMA chips.
“Consumers continue upgrading devices to take advantage of the many data services and advanced features that are now available on 3G CDMA networks,” said Paul Jacobs, Qualcomm’s chief executive officer.
Qualcomm’s stock was up slightly on the news to $44.06 per share. The company’s announcement follows several upbeat reports on the company from various analyst firms.
Qualcomm said it now expects fourth-quarter revenues of between $1.48 billion and $1.58 billion, and earnings per share of between 32 cents and 33 cents. The company upped its CDMA and W-CDMA chipset sales expectations from 43 million to between 45 million and 48 million.
In other financial news, InterDigital Communications Corp. also boosted its patent and technology revenue expectations, news that sent the company’s stock up almost 3 percent to $18.95 per share.
The company said its third-quarter patent licensing revenues would be between $47.5 million and $49.5 million, up from previous expectations of $34.5 million to $36 million.
“We are pleased with the momentum of our patent-licensing program as demonstrated by new agreements with Kyocera, Arima Communications (a manufacturer of mobile handheld devices) and Quanta Computer Inc. (a designer and manufacturer of notebook computers),” said Richard Fagan, the company’s chief financial officer. “We continue to broaden our base of business relationships and, consequently, recurring royalties.”
