Report: Altera beats by $0.01, reports revs in-line; guides Q3 revs above consensus; raises qrtrly dividend 33% to $0.08

Reports Q2 (Jun) earnings of $0.65 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.64; revenues rose 16.9% year/year to $548.4 mln vs the $549.1 mln consensus. Co issues upside guidance for Q3, sees Q3 revs +2-6% QoQ to ~$559.4-581.3 vs. $549.06 mln Capital IQ Consensus Estimate. Co raises quarterly dividend 33% to $0.08. “This quarter marks a return to sequential growth following the mild correction we experienced in the first quarter. We expect more sales gains in the third quarter,” said John Daane, president, chief executive officer, and chairman of the board. “Early in the quarter we began shipping our Stratix V FPGA family, the industry’s first high-end 28-nm FPGA. Our 28-nm FPGA families combine a tailored architecture, an optimal manufacturing process, and specific product features to give us continuing technology leadership that builds on the technology leadership and strong competitive position we established at 40 nm.”