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Before the Bell-Qualcomm rises after lifting guidance
Thursday December 4, 7:59 am ET

NEW YORK, Dec 4 (Reuters) - Shares of Qualcomm Inc. (NYSE:QCOM - News) rose before the bell on Thursday, after the company raised its quarterly earnings and revenue forecasts.Shares of Qualcomm, which sells mobile phone chips and licenses wireless technology, rose to $46.85 on Instinet, up from their close of $44.47.
Before Thursday's open, Qualcomm forecast first-quarter profit of 47 cents to 48 cents a share, up from its target of 37 cents to 40 cents a month ago.
Qualcomm also forecast revenue would rise between 11 percent and 12 percent, compared with its earlier view for a decline of 1 percent to 6 percent. The figures exclude its strategic initiatives segment.