Qualcomm Raises Profit Forecast as Sales Climb

Qualcomm Inc., the world’s second-largest seller of chips that run mobile phones, raised its forecast for fiscal first-quarter profit amid rising demand for handsets that deliver Internet access and take photos.

Net income in the period ending Sunday will be 26 cents to 27 cents a share, compared with an earlier forecast of 23 cents to 25 cents, the San Diego-based company said.

Sales will be $1.4 billion, the company said.