Texas Instruments tops third-quarter estimates on broad-based demand
Revenue rose to $6.05 billion as industrial, automotive and data center demand all grew
Published
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Texas Instruments reported third-quarter earnings of $2.62 a share on revenue of $6.05 billion, beating Wall Street estimates of $2.44 a share and $5.98 billion in revenue.
Chairman, president and chief executive Haviv Ilan said revenue rose 11% from the prior quarter and 28% from a year earlier, with growth spread across industrial, automotive and data center markets.
For the fourth quarter, the company guided revenue to a range of $5.80 billion to $6.30 billion and earnings per share to between $2.45 and $2.79.
The breadth of demand is the central point of the report. Texas Instruments ties its 28% annual growth to gains across three separate end markets rather than one, meaning the increase is not concentrated in a single area of its business. Whether that spread holds up through the next guidance cycle, covered by the fourth-quarter range the company has set out, is the question this result leaves open.
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