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.