National Semiconductor Corp. (NSM) reported better-than-expected second-quarter results, and gave third quarter guidance ahead of the Street’s view.
The chip maker expects third quarter revenue to come in even with second quarter revenue of $344.6 million, beating analyst forecasts for revenue of $331.2 million, according to an analyst poll by Thomson Reuters.
For the second quarter, the company saw profit improve to $47 million or 20 cents a share, compared to earnings of $36.3 million or 16 cents a share one year ago.
Analysts had expected earnings of 14 cents a share. Second-quarter sales fell to $344.6 million, a decline of 18% from a year ago.
Shares of National Semiconductor Corp. fell 22 cents or 1.42% in Thursday’s session to close at $15.28 a share. The stock was down another 40 cents or 2.62% in trading after-hours.
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