Freescale Semiconductor Q2 Profit Rises

(RTTNews) - Freescale Semiconductor Ltd. (FSL) Thursday reported second-quarter net income of $122 million or $0.38 per share, up from $86 million or $0.28 per share last year.

Adjusted earnings for the quarter were $0.57 per share, up from $0.38 per share last year.

Revenues for the quarter rose to $1.20 billion from $1.19 billion last year.

Analysts polled by Thomson Reuters expected the company to report profit of $0.50 per share on revenues of $1.18 billion for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company expects adjusted earnings of $0.47 to $0.51 per share on sales of $1.10 billion to $1.17 billion. Analysts currently estimate earnings of $0.56 per share on revenues of $1.22 billion for the quarter.