Silicon Laboratories Raises 3Q Guidance

AUSTIN, Texas (AP) — Chip maker Silicon Laboratories Inc. on Tuesday raised its outlook for the third quarter through September, citing better-than-expected demand for its broadcast audio and microcontroller products.

The company said it now expects revenue between $123 million to $126 million, up from $114 million to $119 million seen earlier.

It also forecast adjusted earnings per share between 60 cents and 62 cents, compared to 48 cents to 53 cents seen earlier.

Analysts polled by Thomson Reuters had expected, on average, quarterly earnings of 51 cents per share on revenue of $117 million.

Silicon Laboratories expects to report its third-quarter results on Oct. 28.

Its shares closed down 5 cents at $47.96 on Tuesday before the revised outlook was announced. The stock was up 24 cents at $48.21 in after-hours dealings.