Texas Instruments Shares Rally On Earnings Beat, Strong Outlook

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.