Intel ( INTC) put on a show yesterday with its impressive earnings release , but another tech player was seeing a bounce this morning after its own showing.

Altera ( ALTR) shares gained 1.2%, or 19 cents, at $16.56 on Tuesday. But shares were jumping up another 6% before the opening bell this morning following its earnings release yesterday.

Though Altera's second quarter net income plummeted nearly 52% from the year-ago quarter, it still managed to beat street forecasts.

Earnings came to $47.4 million, or 16 cents per share, as compared to $98 million, or 32 cents per share from the second quarter last year. Those numbers were also impacted by an $11.5 million tax charge, or 4 cents per share. Sales for the chipmaker also fell 22% in the same period to $279.2 million.

Still, analysts surveyed by Thomson Reuters expected earnings per share to come to 16 cents on $277.6 million in revenue.

The San Jose, Calif.-based operation also showed a better recent upswing, with net income and sales growing sequentially. New product sales also grew 10% in the same period and 6% in the year-over.

There were, however, other downbeats in the company's earnings release. Looking forward, for example, Altera said its third-quarter results would show a 1% to 5% drop in sales compared to the second quarter.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

The Intel Empire Is Striking Back, Jim Cramer Reveals

Cramer: We Finally Have Some Good Intel

Cramer: Omaha! Call an Audible to Find the Open Company

Intel to Spin Off McAfee After 6-Year Fling

Jim Cramer: Buy Intel, Dish Network on a Pullback