Qualcomm's licensing forecast, helped by Apple deal, drives share gains
Share:
(Reuters) - Qualcomm Inc shares rose more than 5% on Wednesday after it forecast current-quarter profit above Wall Street expectations, as its all-important licensing segment benefits from a deal with Apple Inc .Qualcomm, the world's biggest supplier of mobile phone chips, derives most of its profits from a business segment that invents technologies and licenses them. The company forecast between $1.3 billion (£1.01 billion) and $1.5 billion in revenue for that segment for its fiscal first..