TriQuint Semiconductor Inc. (NASDAQ: TQNT) said Wednesday that it raised its fourth-quarter earnings forecast, citing better-than-expected sales, according to Associated Press.
The company, which makes radio frequency chips, now expects to report earnings of 9 cents to 10 cents per share and revenue of $190 million. Excluding special items, it expects earnings of 12 cents to 13 cents a share.
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Their previous forecast called for adjusted earnings of 10 cents to 12 cents per share and sales of between $175 million and $185 million.
Analysts, who typically exclude special charges from their estimates, expected earnings of 11 cents per share and sales of $180.9 million, according to a Thomson Reuters poll.
TriQuint shares jumped 63 cents, or 10.8 percent, to $6.45 in afternoon trading.
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