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Texas Instruments Q2 Earnings Beat Forecasts

Texas Instruments shares rose in after-hours trading Tuesday, after the semiconductor giant reported second-quarter earnings that were stronger than expected.

Net income registered $1.38 billion, or $1.48 a share, in the quarter, up from $1.31 billion, or $1.36 a share, in the year-earlier period.

Second-quarter EPS greatly exceeded the FactSet analyst consensus of 88 cents a share. But the $1.48 figure for the latest quarter, includes a 33-cent benefit for items not included in the company’s original guidance.

Revenue slid to $3.24 billion in the latest quarter from $3.67 billion a year ago. Analysts forecast revenue of $2.95 billion for the latest quarter.

Texas Instruments predicts EPS of $1.14 to $1.34 a share for the third quarter, compared to analysts’ projection of $1. And the company sees revenue of $3.26 billion to $3.54 billion in the third quarter, compared to the $3.1 billion projection of analysts.

“We have returned $6.7 billion to owners in the past 12 months through stock repurchases and dividends,” Texas Instruments CEO Rich Templeton said in a statement.

“Over the same period, our dividends represented 56% of free cash flow, underscoring their sustainability. Together, our stock repurchases and dividends reflect our continued commitment to return all free cash flow to our owners.”

Last week, TI declared a quarterly dividend of 90 cents, unchanged from the last quarter and up 17% from 77 cents a year ago.

Texas Instrument shares stood at $137.10 in after-hours trading, up 1.20%. The stock slid 0.81% in the regular session and has climbed 5.6% year to date.