Chipmaker Texas Instruments Inc has raised its earnings outlook for its fiscal second quarter.
The company said it now expected to earn between 46 cents and 48 cents in its June-ending quarter, higher than the 38 cent-to-43 cent range it had predicted earlier.
The company also bumped up its revenue forecast to between $3.63bn and $3.78bn, from its April prediction of $3.46m to $3.75bn.
Most of the profit increase will be due to a favorable tax break and a $70m lawsuit settlement from Conexant Systems Inc, said TI.
The Dallas, Texas-based company said it did not expect a slowdown in demand, and said its orders in May were stronger than in April.