Technology

Texas Instruments quarterly revenue beats estimates

2 minute read

FILE PHOTO; A Texas Instruments Office is shown in San Diego, California, U.S., April 24, 2018. REUTERS/Mike Blake

Register now for FREE unlimited access to reuters.com

April 27 (Reuters) - Texas Instruments Inc (TXN.O) reported better-than-expected quarterly revenue on Tuesday, thanks to strong demand for its chips used in personal electronic gadgets such as televisions and PCs.

Catering to a broad range of markets, TI's analog and embedded chips are used for everything from factory automation to personal computers and car infotainment systems, lowering the company's risk of heavy dependence on a few markets.

Investors watch its numbers closely to gauge both the health of the industry and other sectors where semiconductors are key components.

Register now for FREE unlimited access to reuters.com

TI said it expected second-quarter revenue in a range of $4.13 billion to $4.47 billion, above analysts' expectations of $4.16 billion, according to IBES data from Refinitiv.

Total revenue rose to $4.29 billion from $3.33 billion in the first quarter. Analysts on average were expecting $3.99 billion, according to IBES data from Refinitiv.

Net income rose to $1.75 billion, or $1.87 per share, in the first quarter ended March 31, from $1.17 billion, or $1.24 per share, a year earlier.

Register now for FREE unlimited access to reuters.com
Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters