By Maria Armental
Texas Instruments Inc. reported better-than-expected June quarter results, with a 7% revenue increase from the previous quarter and 41% increase from the year earlier driven by strong demand in industrial, automotive and personal electronics.
Second-quarter profit rose to $1.93 billion from $1.38 billion a year earlier. On a per-share basis, profit was $2.05.
Revenue rose to $4.58 billion from $3.24 billion.
Texas Instruments had projected profit of $1.68 to $1.92 a share on $4.13 billion to $4.47 billion in revenue, while analysts surveyed by FactSet expected $1.83 a share on $4.36 billion in revenue.
This quarter, it expects $1.87 to $2.13 a share in profit and $4.4 billion to $4.76 billion in revenue, compared with analysts' expected profit of $1.97 a share and about $4.6 billion in revenue.
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(END) Dow Jones Newswires