Texas Instruments Beats Revenue Estimates As Chip Demand Holds Strong

Reuters2022-07-27

July 26 (Reuters) - Texas Instruments Inc on Tuesday surpassed estimates for second-quarter revenue, as shipments improved with the easing of supply-chain bottlenecks and sustained demand for its chips, sending its shares up 2.6% in extended trade.

Some of the major chip companies have so far weathered the downturn from record-high inflation and unrest in some European markets as demand for high-end chips that go in data centers and electric vehicles continues to hold strong.

Texas Instruments forecast third-quarter revenue in the range of $4.90 billion to $5.30 billion. Analysts had expected revenue of $4.97 billion, according to Refinitiv data.

Earlier, Taiwan's TSMC projected quarterly revenue growth that could be its highest in 10 quarters.

Texas Instruments said revenue in the quarter ended June 30 grew 14% to $5.21 billion, beating analysts' estimate of $4.62 billion.

Net income was $2.29 billion in the second quarter, a 19% rise from a year earlier. Excluding items, it earned $2.45 per share, higher than analysts estimate of $2.12 per share.

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Comments

GH_82
2022-07-27
GH_82
Good to know
Sunsetzzz
2022-07-27
Sunsetzzz
Ok
Khoo12
2022-07-27
Khoo12
Hm
YJ Lee
2022-07-27
YJ Lee
Ok
Ghostwalker
2022-07-27
Ghostwalker
Good

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