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See the best of Reuters photography. See more | Photo caption Sudan war reignites Sudanese war planes bombed a town in South Sudan in an attack the southern army called a declaration of war. Slideshow LA riots: 20 years later The intersection of Florence and Normandie, flashpoint of the riots, as it looks today. Slideshow Texas Instruments rev forecast beats estimates Tweet Share this Email Print Related News Xerox meets Street as profit drops, sees Q2 earnings up 10:20am EDT GE profit, revenue top Wall Street forecasts Fri, Apr 20 2012 Instant View: General Electric posts quarterly profit Fri, Apr 20 2012 Chipmaker AMD's results point to better PC market Thu, Apr 19 2012 Microsoft beats Street profit view, shares up Thu, Apr 19 2012 Analysis & Opinion Obama and the failed war on drugs The promise and peril of energy tax revenues Related Topics Tech » Mon Apr 23, 2012 5:20pm EDT (Reuters) - Texas Instruments (TXN.O) forecast revenue ahead of Wall Street estimates and said a prolonged inventory-related decline in demand had come to an end, sending its shares higher. TI forecast current-quarter revenue of $3.22 billion to $3.48 billion. This was compared with analyst expectations for $3.287 billion, according to Thomson Reuters I/B/E/S. The maker of chips used in products ranging from cellphones to industrial equipment set an earnings target of 30 cents to 38 cents per share for the current quarter. TI posted a first-quarter net profit of $265 million, or 22 cents per share compared with its previous forecast for earnings per share in a range of 15 cents to 19 cents. Its net profit was $666 million, or 55 cents per share in the year ago quarter. Revenue fell 8 percent to $3.12 billion from $3.39 billion but was slightly ahead of the consensus Wall Street forecast for $3.06 billion. TI's own revenue target was $2.99 billion to $3.11 billion. TI shares rose 3.35 percent to $32.96 in late trade after closing down 1.79 percent at $31.89 on Nasdaq. (Reporting By Sinead Carew; Editing by Richard Chang) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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