Texas Instruments reports improved sales and profits

Texas Instruments has come out with their latest quarterly reports and confirmed that they are on track to meet its guidance for the coming quarter.

TI has gained from strong sales of chips for mobile phones and electronic gadgets. The company reported net income of $2.39 billion, or $1.50 per share in the April-June period. This is an improvement from earnings of $628 million, or 38 cents per share a year earlier in the same period.

The revenues were up by around 24 percent, to $3.7 billion. This is slightly better than market expectations of $3.68 billion. This impressive performance helped the company gain in the stock market as its share prices rose by around 4.2 percent.

The company added that it expects to earn 42 to 48 cents per share in the third quarter. Market analysts however are a bit worried about company’s performance as they are predicting that TI would either stumble on earnings or be cautious in its third-quarter guidance.

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