Texas Instruments, Inc. said its second-quarter earnings and revenue would be at the high end of its previous estimates.
The maker of chips for a wide array of products ranging from phones to industrial equipment on Tuesday forecast current quarter earnings per share of 60 cents to 64 cents per share compared with its previous target of 56 cents to 64 cents.
It said revenue for the quarter would be in the $3.45 billion to $3.59 billion range compared with its previous guidance for revenue of $3.31 billion to $3.59 billion.
The company had said in April that it was making "significant progress" in improving its delivery time for chips, easing a supply shortage that has recently plagued it.
TI's chief executive had said last week that he did not have visibility into any issues hurting the company related to the weak European economy and weakness of the euro against the dollar.
(Reporting by Sinead Carew; Editing by Richard Chang)