Qualcomm's 2Q in line with forecasts

Feb. 25, 2002
Qualcomm Inc. said today its second-quarter outlook was in line with analysts' expectations and chip shipments are at the high end of targets, driving up shares as it eased some investors' recent concerns about the company. Qualcomm is one of many companies that have come under increased examination in recent weeks over accounting methods. Shares have dropped 26% in February, while the broader Nasdaq
Qualcomm Inc. said today its second-quarter outlook was in line with analysts' expectations and chip shipments are at the high end of targets, driving up shares as it eased some investors' recent concerns about the company.

Qualcomm is one of many companies that have come under increased examination in recent weeks over accounting methods. Shares have dropped 26% in February, while the broader Nasdaq has dropped 11%.

Among the positive news, the company said that phone chip shipments are in line or better than its targets.

"Our second fiscal quarter targets for MSM phone chip shipments are coming in on the upper end of our original estimate of 13-14 million units and our CDMA2000 1X chip shipments are expected to be approximately one million units higher than our original estimate," CEO Irwin Mark Jacobs said.

About the Author

Tim Parry

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!