Qualcomm sees revenue, profits above estimates; says supply chain is improving Stephen Nellis ,
By Stephen Nellis and Chavi Mehta
(Reuters) -Qualcomm Inc on Wednesday forecast current quarter sales and adjusted profits above Wall Street estimates, with executives saying they see supply constraints easing as smartphone buyers upgrade to 5G and former Huawei Technologies Co Ltd customers migrate to Qualcomm-chip phones.
Qualcomm shares rose 6% after the results were released.
Qualcomm is the world s biggest supplier of smartphone chips, providing key components for 5G connectivity. The San Diego, California-based company has resolved protracted legal fights with regulators and regained iPhone maker Apple Inc as a customer.
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