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TI bumps up its earnings estimates

The leading maker of chips for cell phones is the latest company to note that its financial picture is looking brighter.

Ina Fried Former Staff writer, CNET News
During her years at CNET News, Ina Fried changed beats several times, changed genders once, and covered both of the Pirates of Silicon Valley.
Ina Fried
Texas Instruments, the leading maker of chips for cell phones, is the latest company to note that its financial picture is looking brighter.

The Dallas-based company said on Tuesday that it now expects revenue of between $2.39 billion and $2.49 billion for the third quarter, putting estimates at the high end of its previous forecast of $2.29 billion to $2.49 billion. The company also said it expects earnings to be roughly the same as earlier forecasts despite the inclusion of a $23 million acquisition-related charge that was not anticipated in the company's earlier outlook.

TI said it expects per-share earnings of between 22 cents and 23 cents, including that charge. The news follows earlier comments on Tuesday from leading cell phone maker Nokia that stronger demand could result in higher quarterly profits for that company.

On Monday, Research In Motion upped its forecast for the current quarter, and Intel has also predicted better sales.

Dell Computer CEO Michael Dell said Monday that the second half of the year is likely to bring modest improvements in technology spending.

"What happens in the second half is likely to continue to be moderate growth," Dell said during a question and answer session with reporters at OracleWorld on Monday.