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Texas Instruments Raises Q2 Earnings Estimates

Chip maker Texas Instruments is raising expectations for its second-quarter profit and revenue.

Dallas-based Texas Instruments Inc. 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 rose 60 cents, or 3 percent, to $20.37 in after-hours trading.

6/8/2009 4:49 PM NEW YORK (AP)

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