For the full-year, Qualcomm now sees earnings per share of $2.33 to $2.37 from the previously-predicted $2.21 to $2.32 range. Also, revenue is projected to be in the range of $10.7 billion to $11 billion from the prior projection of $10.4 billion to $11 billion. On average, Wall Street has been expecting full-year earnings of $2.31 on revenue of $10.72 billion.
The company has provided fourth-quarter guidance range of 55 cents a share to 59 cents a share on revenue of $2.67 billion to $2.93 billion. Analysts have been expecting fourth quarter earnings of 57 cents a share on revenue of $2.77 billion.
For the third quarter, Qualcomm has posted earnings of 47 cents a share, up 7% year-over-year on revenue of $2.71 billion, down 2%.
Pro forma earnings per share was 57 cents a share, up 6% year-over-year on pro forma revenue of $2.7 billion, down 2% year-over-year, but still beating analysts' expectations. The Wall Street consensus estimate for the quarter was earnings per share of 54 cents on revenue of $2.63 billion.
"Our financial performance this quarter exceeded our prior expectations, driven by record MSM chipset shipments, favorable product mix and continued strong demand for 3G devices around the world," said Paul Jacobs, chairman and CEO of Qualcomm. "Looking forward, we continue to see healthy CDMA-based device growth of approximately 23% in calendar year 2010, and are raising both our revenue and earnings guidance for the fiscal year."
Qualcomm has risen 3.3% to $37.35 in after-hours trading.
-- Reported by Andrea Tse in New York
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