UPDATE 1-Chipmaker Altera beats Street, shares jump

* Q4 EPS 34 cents vs Street view 29 cents

* Q4 revenue $365 mln vs Street view $334.88 mln

* Sees Q1 rev up 5 pct to 10 pct over Q4

* Sees Q1 gross margin of 67.5 pct to 68.5 pct

* Shares up 4 pct after hours

SAN FRANCISCO, Jan 26 (BestGrowthStock) – Programmable chipmaker
Altera Corp (ALTR.O: ) on Tuesday reported better-than-expected
results on strong consumer demand and increased sales of
telecommunications equipment over the holiday quarter, and its
shares rose 4 percent in after-hours trade.

The company said fourth-quarter net income increased to
$102.97 million, or 34 cents a share, from $83.04 million, or
28 cents a share, in the year-ago period.

That exceeded the average analyst estimate of 29 cents a
share, according to Thomson Reuters I/B/E/S.

Revenue rose to $365 million, surpassing the Wall Street
estimate of $334.88 million.

Altera said it expects a gross margin of 67.5 percent to
68.5 percent in the current quarter, and sees sales rising 5
percent to 10 percent from the fourth quarter.

Its shares closed at $21.19 on the Nasdaq and rose to
$22.00 in extended trading.

Investing Research

(Reporting by Ian Sherr; Editing by Steve Orlofsky)

UPDATE 1-Chipmaker Altera beats Street, shares jump