UPDATE 1-Texas Instruments gives upbeat revenue forecast
SAN FRANCISCO, July 22 (Reuters) - Texas Instruments Inc's second-quarter revenue came close to Wall Street's expectations on improved chip demand from automakers and the communications industry, and it forecast stronger third-quarter revenue growth than some analysts had estimated.
TI posted second-quarter revenue of $3.047 billion and net income of $660 million, or 58 cents a share.
In the third quarter, revenue will range from $3.09 billion to $3.35 billion, the company estimated.
Analysts on average had expected revenue of $3.059 billion for the second quarter and $3.199 billion for the third quarter, which ends in September, according to Thomson Reuters I/B/E/S.
Shares of Texas Instruments rose 0.96 percent in extended trade after closing up 0.43 percent at $37.42 on Nasdaq.