Qualcomm raises 2Q guidance, shares jump

Wireless chip maker Qualcomm raised its fiscal second-quarter guidance Thursday, sending shares sharply higher.

The company said both its licensing and chip businesses are doing better than expected.

Qualcomm now expects earnings of 42 cents to 44 cents per share for the quarter ending March 28, up from earlier guidance of 35 cents to 39 cents per share.

Qualcomm expects adjusted earnings of 56 cents to 58 …