Texas Instruments revenues surge on automotive rebound
A rebound of automotive demand and growing demand from personal electronics have propelled Texas Instruments to third quarter revenue of $3.82 billion and net income of $1.35 billion.
Revenue was up 18% sequentially and up 1% from the same quarter a year ago.
Rich Templeton (pictured), TI’s chairman, president and CEO commented, “In our core businesses, analogue revenue grew 18% and embedded processing grew 19% sequentially. From a year ago, analogue revenue grew 7% and embedded processing declined 10%.”
He added, "Our cash flow from operations of $5.8 billion for the trailing 12 months again underscored the strength of our business model. Free cash flow for the same period was $5.2 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 Analog production.”