Texas Instruments stock price surged after hours, with a strong outlook for second quarter revenue.

Texas Instruments said in a statement on Wednesday that its second quarter revenue is expected to be between $5 billion and $5.4 billion. According to data compiled by Bloomberg, analysts' average estimate was $4.85 billion. Earnings per share are expected to be between $1.77 and $2.05, higher than analysts' forecast of $1.57. This outlook indicates that Texas Instruments' sales recovery momentum remains strong. The stock has risen significantly this year, driven by signs of increasing demand for chips in industrial equipment and data centers, as well as the company's plans to cut expenses for new factories and increase free cash flow. Boosted by the financial report, Texas Instruments surged more than 7% in after-hours trading. Prior to the release of the financial report, the stock had already risen 36% so far this year.