Texas Instruments Jumped Over 4% in Premarket Trading after It Beat Quarterly Revenue Estimates on Strong Chip Demand
Tiger Newspress2022-01-26
Texas Instruments jumped over 4% in premarket trading after it beat quarterly revenue estimates on strong chip demand.
The company said it expects first-quarter revenue between $4.5 billion and $4.9 billion. Analysts on average estimate revenue of $4.37 billion, according to IBES data from Refinitiv.
Texas Instruments fourth-quarter revenue rose 19% to $4.83 billion, topping analysts' expectations of $4.43 billion, driven by strong demand in industrial and automotive markets.
Net income rose to $2.14 billion, or $2.27 per share, during the quarter ended Dec. 31, compared with $1.69 billion, or $1.80 per share, a year earlier.
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