SAN DIEGO-Qualcomm Inc. reiterated its third-quarter expectations, news that appeared to mollify investors. The company’s stock was up slightly in trading after the news to about $35.49 per share.
Qualcomm April 20 forecast third-quarter revenues of between $1.26 billion and $1.36 billion and its earnings per share of between 24 cents and 26 cents. The company also reduced its 2005 handset estimate by 5 percent due to what the company said was a slower ramp-up of W-CDMA and “channel inventory adjustments” in CDMA.
Analysts polled by Thomson First Call predict Qualcomm will report third-quarter revenues of $1.32 billion and earnings per share of 26 cents.
