Texas Instruments Inc. shares rallied in the extended session Monday after the chip maker topped Wall Street estimates for the quarter and offered a strong outlook. Texas Instruments shares surged 6% to $70.22 after hours. The company reported second quarter earnings of 76 cents a share on revenue of $3.27 billion. Analysts surveyed by FactSet had forecast 72 cents a share on revenue of $3.2 billion. Texas Instruments forecast third-quarter earnings of 81 cents to 91 cents a share on revenue of $3.34 billion to $3.62 billion. Analysts expect earnings of 81 cents a share on revenue of $3.38 billion.
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