Fourth-quarter sales at Texas Instruments were better than Wall Street had forecast.
Revenue in the fourth quarter that ended in December rose 19% year-on-year to $4.83 billion, with a net income of $2.27 per share, compared with analysts’ expectations of $4.43 billion and $1.94 per share.
Breaking it down, the company’s analog chip grew by 20%, embedded chips were up by 6% and the third category of “other” revenue was up by 35%.
For the current quarter, analysts forecast revenue of $4.4 billion and a $1.91 profit per share.
However, the company’s estimated revenue is between $4.5 billion and $4.9 billion and expects earnings per share of between $2.01 and $2.29.
Chief executive Rich Templeton commented on the company’s quarterly report, saying that revenue growth was “driven by strong demand in industrial and automotive markets.”
The company’s free cash flow increased 15% to $6.3 billion in the fourth quarter, which Templeton described as reflecting the “quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimetre production.”
For more information, read the original story in ZDNet.