Texas Instruments Inc. topped third-quarter profit targets Monday but cautioned that sales in the current three months will fall shy of analysts' consensus estimate.
After the close of stock markets, the world's biggest maker of semiconductors for mobile phones said it earned $563-million (U.S.) or 32 cents a share, up from $447-million or 25 cents a share a year ago.
Sales in the three months ended Sept. 30 climbed to $3.25-billion from $2.53-billion.
Analysts had been expecting earnings of 27 cents a share on sales of $3.17-billion, according to a consensus estimate provided by Thomson First Call.
For the fourth quarter, Dallas-based TI said it expects revenue between $2.96-billion and $3.2-billion, with per-share earnings ranging from 24 cents to 28 cents. Analysts were, on average, forecasting sales of $3.21-billion and earnings of 26 cents a share.
Shares of TI rose 91 cents or 4.3 per cent to $22 in extended action Monday after falling 13 cents or 0.6 per cent to $21.09 in regular trading.
The company said sales from its wireless and digital light processing semiconductor products were strong for the second straight quarter, offsetting declines in other areas, primarily in standard products, which were affected by ongoing inventory adjustments, especially in distribution channels.
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