Texas Instruments profits and revenues up

Texas Instruments profits and revenues up

Texas Instruments is one of the largest semiconductor producers in the world. The company has just come out with their revenue results and TI has performed impressively.

The company said in a statement yesterday that its sales and profits rose in the first quarter due to strong demand for its computer chips. Texas Instruments gained from increasing demand and sales of digital products like mobile phones, which make uses of TI chips.

TI also reported an upbeat outlook for the April-June quarter. Their profit estimates are higher than market expectations. Impressive results led to the shares of TI gain in the stock market.

TI reported that it earned $585 million or 36 cents per share in the more recent quarter. This is an improvement from $411 million or 24 cents per share a year earlier in the same period.

TI Chief Executive Richard Templeton said in a statement: “This is a good start to the year. Demand was strong, and we expect it to continue.” The company is expecting second quarter revenue of $3.46 billion to $3.75 billion.