TI Reports Strong Results, Outlook
Texas Instruments Inc.’s (TXN) fourth-quarter profit soared on stronger sales and higher margins, aided by a return of demand from industrial markets.
The Dallas-based chip maker’s results benefited from a 27 percent jump in sales of analog chips, used in everything from cell phones and manufacturing equipment. The company also said its first-quarter results could surpass its fourth quarter, rather than the typical seasonal slowdown.
“We are seeing a broadening of demand,” Texas Instruments Chief Financial Officer Kevin March said.
Unlike last year, when consumers led demand for technology products, company officials said the automotive, computer and other sectors contributed to earnings and revenue results that topped the midpoints of Texas Instruments’ earlier estimates and Wall Street expectations.