Texas In­stru­ments’ profit, sales soar amid re­bound in de­mand

Austin American-Statesman - - BUSINESS -

NEW YORK — Texas In­stru­ments Inc.’s sec­ond-quar­ter profit and rev­enue jumped as de­mand con­tin­ued to re­cover, yet in­vestors had ex­pected even bet­ter re­sults.

Shares fell more than 5 per­cent af­ter the chip­maker’s re­port was re­leased Mon­day.

TI said net in­come nearly tripled to $769 mil­lion, or 62 cents per share, for the quar­ter that ended June 30. In the same pe­riod last year, TI earned $260 mil­lion, or 20 cents per share.

Rev­enue rose 42 per­cent to $3.5 bil­lion, match­ing the av­er­age an­a­lyst fore­cast. It was $2.46 bil­lion in the same pe­riod last year.

With the sec­ond-quar­ter re­sults, the Dal­las­based com­pany has re­cov­ered to pre-re­ces­sion lev­els.

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