Texas Instruments Shares Jump on Boosted Guidance
Chip maker Texas Instruments is raising expectations for its second-quarter profit and revenue.
Dallas-based Texas Instruments said Monday it now expects a profit in a range of 14 cents to 22 cents per share for the current quarter.
Revenue is expected to be between $2.3 billion and $2.5 billion.
Analysts, on average, are expecting a profit of 10 cents per share on sales of $2.21 billion, according to a poll by Thomson Reuters.
In April, the company forecast a second-quarter profit of 1 cent to 15 cents a share. The company's previous revenue estimate was between $1.95 billion and $2.4 billion.
Texas Instruments' shares, which closed Monday at $19.77 , were up more than 4 percent in after-hours trading. Click here for after-hours Texas Instruments quotes.