Texas Instrumentsposted higher-than-expected quarterly results Monday, sending shares higher in afternoon trading.
The chipmaker reported first quarter earnings of 52 cents a share. Texas Instruments earned 1 cent a share during the same period a year earlier.
Sales for the most recent quarter rose to $3.21 billion, up from $2.09 billion last year.
The company was seen earning 51 cents a share on revenue of $3.14 billion, according to a consensus estimate from Thomson Reuters.
The company also boosted its revenue guidance for the second quarter to between 56 cents to 64 cents a share. Earlier consensus was 53 cents a share.