SAN FRANCISCO – Texas Instruments Inc. (TXN), the world's top maker of semiconductors used in mobile phones, Thursday raised the high end of its range of expected results for the current quarter, citing broad-based demand.
Texas Instruments said it now sees revenue of $3.48 billion to $3.62 billion and earnings per share of 36 cents to 38 cents in the third quarter, including 3 cents per share to cover the cost of expensing stock options granted to workers.
In July, the company said it expected earnings per share of 31 cents to 35 cents, includiontrols revenue will be $280 million to $290 million, an increase from a prior given range of $275 million and $295 million.
Educational and productivity solutions revenue, which includes calculators, will be between $180 million and $190 million, compared with its earlier forecast of between $180 million to $200 million.
"TI's updated estimate reflects growing demand across a broad range of its semiconductor products," the company said in a statement.
Shares of TI rose 45 cents, or 1.4 percent, to $33.75 on the New York Stock Exchange (search) before trading was halted pending the announcement. There was no immediately available after-hours pricing on Inet.
So far this year, based on Wednesday's closing price, TI shares have climbed in value by about 35 percent.