Altera Jumps 8% on Q2 Results
Chip-maker Altera (NASDAQ: ALTR) released its fiscal second-quarter earnings results after the closing bell on Tuesday. The company reported net income of $162.7 million or $0.50 per share, compared to $214.6 million or $0.65 per share, in the year ago period. This beat analysts' consensus EPS estimates of $0.39.
Net sales in the quarter were down 15 percent to $464.83 million from $548.38 million in last year's second-quarter. This easily exceeded Wall Street consensus revenue estimates of $445.23 million.
Altera also increased its dividend from $0.08 per share to $0.10 per share.
In Tuesday's after hours trading session, ALTR had spiked 9.23 percent to $33.20.
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