Texas Instruments forecast second-quarter revenue above Wall Street estimates Wednesday, betting on robust demand for its analog chips despite widespread economic uncertainty stemming from U.S. tariffs.
The optimistic outlook from TI- the first among major U.S. chipmakers to report results for the March quarter - could help allay some of the concerns over the adverse impact of tariffs on semiconductor companies.
Shares of the company rose more than 6% in extended trading after dropping more than 17% this year as investor anxiety stemming from a worsening macroeconomic outlook weighed on the sector.
The company expects revenue in the range of $4.17 billion to $4.53 billion for the second quarter, compared with analysts' average estimate of $4.10 billion, according to data compiled by LSEG.
TI expects earnings between $1.21 per share and $1.47 per share for the second quarter, compared with analysts' average estimate of profit of $1.23 per share.