Qualcomm Inc.
posted strong quarterly earnings and gave an upbeat sales outlook, underscoring that demand for chips for everything from smartphones to cars remains elevated.
“Demand remains strong across all of our technologies and continues to exceed supply,” Qualcomm Chief Executive Cristiano Amon said on an analysts call. Supply shortages are improving, he said, but bottlenecks are expected to persist.
The company on Wednesday said it generated $10.7 billion in sales and $3.4 billion in net income in the most-recent quarter, surpassing Wall Street expectations.
Qualcomm, which projects revenue of up to $11 billion for the current quarter, joins other chip companies to report strong results over the past 10 days, as semiconductor demand outpaces…
