Feb 5 (Reuters) - Qualcomm ( QCOM ) on Wednesday
forecast sales and profits above analyst expectations as
artificial intelligence features helped drive sales of the
smartphones, laptops and other devices powered by its chips.
For its current fiscal second quarter, Qualcomm ( QCOM ) forecast
sales range with a midpoint of $10.75 billion and adjusted
profits of $2.80 per share, both above analyst estimates of
sales of $10.34 billion and adjusted profit $2.69 per share,
according to data from LSEG.
Qualcomm ( QCOM ) reported sales of $11.67 billion and adjusted
profits of $3.41 per share for its fiscal first quarter ended
December 29. Both were well above analyst estimates of $10.93
billion for sales and adjusted profits of $2.96 per share,
according to data from LSEG.
Qualcomm ( QCOM ), the world's biggest supplier of modem chips that
connect smartphones to wireless data networks, said last month
it had won a major new deal Samsung Electronics ( SSNLF ) to
provide chips for the South Korean firm's flagship mobile phones
around the world. San Diego, California-based Qualcomm ( QCOM ) is also
working with Microsoft ( MSFT ) and computer manufacturers to
offer a range of laptops and PCs based on its chips.