Qualcomm revenue pops 41% driven by Android phone chip sales

▤ Summary

Qualcomm reported second-quarter earnings Wednesday, beating Wall Street expectations for sales and earnings, and driving the stock up over 4% in extended trading. Qualcomm said it expected between $2.75 and $2.95 in earnings per share in the third quarter on about $10.9 billion in sales. The companys forecast is stronger than the $9.98 billion sales guidance that Wall Street expected. Qualcomm makes most of its money from selling processors and modems for smartphones and through licensing technology for connecting to cellular networks. Under CEO Cristiano Amon, Qualcomm has emphasized to investors that it can be a chip provider for many additional markets and can diversify away from its bread and butter handset chip business.

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