(Reuters) -Texas Instruments ( TXN ) beat analysts' estimates for second-quarter profit on Tuesday, as demand for analog chips from markets such as personal electronics stabilized after a years-long glut fueled by stockpiling during the pandemic.

A rebound in smartphones and personal computers sales has allowed providers to clear existing semiconductor inventory and boosted orders for TI's chips that assist in powering these devices.

The company's forecast comes as a welcome sign for investors who have driven a year-to-date increase of about 16% in TI's share value, awaiting a recovery in the analog market.

Shares of the more than 93-year-old company were up 4% in extended trading.

The company reported earnings of $1.22 per share for the second quarter, compared to analysts' average estimate of $1.16, according to LSEG data.

The company forecast revenue with a midpoint of $4.1 billion for the third quarter, in line with analysts' estimates.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Sriraj Kalluvila)