|More on Earnings Today's Top Earnings|
NEW YORK ( TheStreet) -- Texas Instruments ( AAPL) nailed its second quarter numbers, but failed to beat the mark investors were looking for.
The communications chip maker posted an adjusted profit of 62 cents, up from the 20-cent earnings level in the year-ago quarter and in line with an analysts' estimates tally by Yahoo! Finance. Sales for the second quarter ended last month were $3.5 billion, up 43% from the $2.46 billion revenue booked for the same period last year. Analysts were looking for sales of $3.52 billion. Looking ahead, Texas Instruments guided in line with analyst estimates. The company says it expects third quarter sales in a range between $3.55 billion and $3.85 billion. Analysts are looking for $3.59 billion for the September quarter.
"Orders were strong in the quarter, backlog increased and we expect to grow revenue again in the third quarter," the company said in a press release Monday. Texas Instruments has had a hand in the red-hot phone market as its 1-gigahertz processor powers the Motorola ( MOT) Droid X at Verizon ( VZ). TI shares, which closed up 3% at $25.55 on pre-earnings optimism, fell 5% in post-close trading after reporting lackluster results. --Written by Scott Moritz in New York.