Source: Marketwatch
Texas Instruments Inc. late Thursday boosted its financial targets for the second quarter, with sales helped by increased demand for cell-phone chips and its bottom line boosted by a tax benefit and a legal settlement.
In a mid-quarter update, TI lifted its sales range to between $3.63 billion and $3.78 billion, higher than its previous target of $3.46 billion to $3.75 billion. The sales estimate includes a $70 million cash payment from Conexant Systems Inc. for a previously announced settlement of patent-related litigation.
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