Texas Instruments Q4 revenue grows 7%
Texas Instruments has reported fourth quarter revenue of $4.08 billion up 7% sequentially and 22% up on the same quarter in 2019.
Net income was $1.69 billion.
The growth was driven by strong demand in automotive, personal electronics and industrial markets.
Rich Templeton (pictured) TI’s chairman, president and CEO commented, “In our core businesses, Analogue revenue grew 9% and Embedded Processing grew 11% sequentially. From a year ago, Analogue revenue grew 25% and Embedded Processing grew 14%.”
Full year revenues edged ahead from $14.4bn in 2019 to $14.5bn in 2020.
Said Templeton, "Our cash flow from operations of $6.1 billion for the year again underscored the strength of our business model. Free cash flow for the year was $5.5 billion and 38% of revenue. This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter Analogue production.”
TI’s first quarter outlook is for revenue in the range of $3.79 billion to $4.11 billion.
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