Altera 2nd-qtr results beat estimates

July 24 Tue Jul 24, 2012 4:32pm EDT

July 24 (Reuters) - Altera Corp reported second-quarter results well above estimates and projected a sequential increase in third-quarter sales

The programmable chipmaker posted a profit of 50 cents per share on revenue of $464.8 million. Analysts on average were looking for a profit of 39 cents per share profit on revenue of $445.2 million, according to Thomson Reuters I/B/E/S.

For the third quarter, it expects sales growth of 2 percent to 6 percent, sequentially.

Shares of the company rose 8 percent in trading after the bell. They closed at $30.69 on Tuesday on the Nasdaq.

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