TI's first quarter results beat analyst expectations

TI’s first quarter results beat analyst expectations
Tom Foremski
Texas Instruments (TI) reported fiscal first quarter results that beat analyst expectations and said that second quarter results will also be strong.
Profits were up 48 per cent to $233m compared with the same period last year, helped by the divestiture of its memory chip business. Revenues for the quarter were $2.039bn, lower than $2.187bn for the same period last year because of the lack of memory chip sales.
Chip orders were strong, up 19 per cent from a year ago with increasing demand for TI’s DSP and analog chips. The company said it expects sales of these chips to out pace the overall chip market this year.
“The expansion of TI’s DSP and analog products into new markets demonstrates that the pervasiveness of these technologies is accelerating,” said TI CEO Tom Engibous. “Combined with the momentum that continues to build in the large end-equipment markets — wireless, mass storage and broadband access — we believe there is significant opportunity for growth.”

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