Shares in Texas Instruments (TXN) jumped nearly 8% in 澳洲幸运5官方开奖结果体彩网:extended-hours trading Tuesday evening after the analog chipmaker surpassed quarterly estimates and issued second-quarter sales guidance that came in ahead of Wall Street expectations amid a rebound in demand.

For the quarter ending March 31, the Dallas-based company posted earnings of $1.20 per share, handily above analysts’ forecast of $1.07 a share. Although revenue in the quarter of $3.66 billion contracted 16% from a year earlier and 10% on a sequential basis, the figure came in ahead of estimates modeled at $3.6 billion.

Looking ahead, the calculator maker projects current-quarter revenue of between $3.65 billion and $3.95 billion, with the $3.8 billion midpoint of that range surpassing the $3.77 billion expected by analysts. Earnings guidance in the period of $1.05 to $1.25 per share sits roughly in-line with estimates.

Texas Instruments CFO Rafael Lizardi told Bloomberg in an interview that most of its industrial equipment customers have worked through an inventory backlog, but some are continuing the process, which has created an uneven recovery in demand.

“Some end markets are still going down, and there are some that are behaving differently.” Lizardi said. “Ninety days ago, all end markets in industrial were going down,” he added.

The company’s better-than-expected outlook also indicates a recovery in analog chip-powered personal computer (PC) and 澳洲幸运5官方开奖结果体彩网:smartphone markets, which have remained soft in recent quarters following a pandemic-era 澳洲幸运5官方开奖结果体彩网:work-from-home buying boom. Data from research firm Counterpoint recently revealed that PC shipments improved around 3% in the first three months of this year after slumping for eight consecutive quarters.

The Texas Instruments share price broke down below the lower trendline of a 澳洲幸运5官方开奖结果体彩网:ascending triangle and the 澳洲幸运5官方开奖结果体彩网:200-day moving average last week but has closed in the green over the past two conseꦉcutive trading sessions leading into the company’s quarterly financial resul🔴ts.

Following the stock’s expected earning’s pop, investors should monitor if the price can close above the triangle’s top trendline around $176, which would confirm a 澳洲幸运5官方开奖结果体彩网:bear trap and poꦐtentially act as 🍌a catalyst for a move up to a key horizontal trendline positioned around $185.50.

Texas Instrument shares gained 7.7% to $178.18 in after-hours trading ♍T🎉uesday.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our 澳洲幸运5官方开奖结果体彩网:warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.