The chipmaker now expects to earn between $0.25 and $0.27 per share for the quarter. Excluding a $0.07 per-share gain from the sale of 32.4 million shares of Micron
While wireless continues to drive results, the company confirms it is seeing strong demand "across a broad range" of semiconductor products. As a result, it expects semiconductor revenue between $2.33 billion and $2.44 billion, rather than $2.185 to $2.365 billion.
Overall, total revenue will come in between $2.64 billion and $2.77 billion, up from its previous guidance of $2.49 billion to $2.70 billion.
Management also updated its guidance for other segments. The company now expects sensors and controls revenues of $245 million to $255 million vs. prior expectations of $235 million to $255 million. However, TI lowered the top end of its educational and productivity solutions revenue; the company now expects $70 million to $75 million for the quarter, instead of $70 million to $80 million.
Texas Instruments shares have doubled off their January lows, thanks largely to strong wireless demand. But it's the improving performance across other lines that could support TI at today's prices.