Qualcomm Increases Sales, Profit Forecasts

Qualcomm Inc. raised its fiscal fourth-quarter sales and profit forecasts because of increased royalties and unexpectedly strong demand in North America and Latin America.

Profit excluding some costs will be as much as 33 cents a share, compared with a July forecast of as much as 31 cents, San Diego-based Qualcomm said. Sales could reach $1.58 billion, up from a $1.53-billion forecast.

Shares of Qualcomm rose 31 cents to $43.73.