NEW YORK (CNN/Money) - Qualcomm Inc. said Friday it expects to beat the Wall Street consensus forecast for its fiscal third-quarter earnings and said the outlook for future sales is strong.

The wireless technology provider said it expects to meet or beat the high end of its earlier earnings per share guidance of 21 to 23 cents for the period ending June 30. That guidance and analysts' estimates exclude charges the company terms "strategic initiatives."

Analysts surveyed by earnings tracker First Call had an average EPS forecast of 22 cents, ranging from 20 to 23 cents. The company earned 23 cents a share a year earlier.

The company also said it should meet or top the high end of its previous guidance of 15 million to 16 million phone chip shipments. It added that orders for the next quarter are strong due to increasing demand for Code Division Multiple Access technology, which is one of the two leading wireless technology standards and the one used by Qualcomm.

Shares of Qualcomm (QCOM: up $0.48 to $26.81, Research, Estimates) gained almost 2 percent in mid-morning trading Friday, although it slipped from the 7 percent gain that the stock was showing in pre-market trading.