Qualcomm beats street, raises guidance, shares rise

NEW YORK (Reuters) – Qualcomm Inc beat Wall Street expectations for its fiscal first-quarter earnings and raised its financial targets for 2013 due to growing demand for smartphones and high-speed wireless services. Shares in the leading supplier of chips cellphones rose 6 percent in after-market trade on Wednesday after it raised its full-year revenue guidance to a range of $23.4 billion to $24.4 billion from its previous target of $23 billion to $24 billion. It raised its earnings per share target to a range of $4.25 to $4.45 from its previous forecast range of $4.12 to $4.32. …

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Qualcomm beats street, raises guidance, shares rise

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