Altera Jumps 8% on Q2 Results

Chip-maker Altera

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.