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Qualcomm says chip and phone sales will increase in its fourth quarter. This morning (Tuesday), it raised its earnings per share fourth quarter forecast to a range of 52 cents to 53 cents. Earlier, it had looked for 49 cents. However, as of 10:17 a.m., the stock is down 33 cents to $41.31. Analysts say the quality of Qualcomm's earnings is not impressive. For example, it bought back $1.25 billion worth of stock this quarter. That took 30 million shares away and boosted earnings per share. Also, the company still has legal squabbles with Nokia and Broadcom.
Qualcomm says chip and phone sales will increase in its fourth quarter. This morning (Tuesday), it raised its earnings per share fourth quarter forecast to a range of 52 cents to 53 cents. Earlier, it had looked for 49 cents. However, as of 10:17 a.m., the stock is down 33 cents to $41.31. Analysts say the quality of Qualcomm's earnings is not impressive. For example, it bought back $1.25 billion worth of stock this quarter. That took 30 million shares away and boosted earnings per share. Also, the company still has legal squabbles with Nokia and Broadcom.