Texas Instruments Inc. on Tuesday raised its second-quarter earnings guidance and narrowed its revenue outlook, citing higher demand for semiconductor products and seasonal growth for educational calculators.
The semiconductor maker said it expects earnings per share of 27 cents to 30 cents for the quarter, up from a prior forecast of 25 cents to 29 cents. Analysts surveyed by Thomson Financial expect the company to earn 27 cents per share.
Texas Instruments also projected second-quarter revenue of $3.12 billion to $3.24 billion, raising the low end of its guidance from $3 billion. The company forecast higher revenue ranges for semiconductors, sensors and controls, and educational and productivity products.
Analysts expect the Dallas-based company to post revenue of $3.14 billion for the quarter.