Texas Instruments raised its forecast for the current quarter, citing broad-based demand.

The company 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, reduced by 3 cents a share to cover the cost of expensing stock options granted to workers.

In July, Texas Instruments said it expected earnings per share of 31 cents to 35 cents, including about 3 cents a share for options expense, on revenue of $3.29 billion to $3.56 billion.

TI said it expects semiconductor revenue of $3.02 billion to $3.14 billion, up from its prior forecast of $2.84 billion to $3.07 billion.

"TI's updated estimate reflects growing demand across a broad range of its semiconductor products," the company said in a statement.

Sensors and controls revenue will be $280 million to $290 million, an increase from a prior given range of $275 million and $295 million.

By: DocMemory
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