Texas Instruments Inc (NASDAQ:TXN) shares jumped almost 7% on better-than-expected first quarter results and a strong outlook for the second quarter.
For Q1, the multinational semiconductor company’s earnings per share (EPS) came in at $1.28, ahead of analyst forecasts of $1.10.
Revenue grew 11% from the year-ago quarter to $4.07 billion, compared to Wall Street estimates of $3.91 billion.
“All of our markets grew sequentially with the exception of a seasonal decline in personal electronics,” Texas Instruments CEO Haviv Illan noted.
For Q2, the company projected revenue in the range of $4.17 billion to $4.53 billion and EPS between $1.21 and $1.47, both above analyst estimates of $4.14 billion and $1.24 per share, respectively.
Shares of Texas Instruments traded up 6.8% at $163 on Thursday afternoon.