Texas Instruments’ Q2 rises on industrial, automotive strength
The revenue was up 13 percent from the same period a year before and the profit was up 29 percent from $819 million. The increase in sales was attributed to automotive demand and increasing strength in the industrial market.
“In our core businesses, analog revenue grew 18 percent and embedded processing revenue grew 15 percent from the same quarter a year ago,” said Rich Templeton, TI CEO, in a statement.
At the end of the quarter the company had $3 billion of cash and short-term investments on hand putting it in a good place to do further consolidation in the industry.
TI said the third quarter outlook was for revenue of about $3.90 billion, plus or minus $160 million.
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