DALLAS (AP) _ Texas Instruments Inc. (TXN) on Tuesday reported second-quarter profit of $1.38 billion.

The Dallas-based company said it had net income of $1.48 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.

The chipmaker posted revenue of $3.24 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $2.96 billion.

For the current quarter ending in October, Texas Instruments said it expects revenue in the range of $3.26 billion to $3.54 billion. Analysts surveyed by Zacks had expected revenue of $2.97 billion.

Texas Instruments shares have climbed 5.5% since the beginning of the year, while the Standard & Poor's 500 index has risen almost 1%. In the final minutes of trading on Tuesday, shares hit $135.34, a climb of 15% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXN at https://www.zacks.com/ap/TXN

Automated Insights, source Associated Press News