Texas Instruments declares results
World’s top maker of mobile phone chips Texas Instruments declared their results today in the market. The company reported that their sales profit jumped by around 42% compared to last year as the factories ran more smoothly and consumers snatched up the latest video and Internet phones. TI also reported growth in net income from year-earlier quarter’s profit of $441 million to $628 million for this year.
Texas Instruments also said that they are benefiting from increasing demand for calculators and its television component divisions. Chief Financial Officer Kevin March spoke to a media group about these results: “Our confidence level is probably higher than it has been for quite a long time. We should be able to deliver another strong quarter in Q3.â€
The company also reported flat revenues when compared to year-earlier period at $3.24 billion. However, these figures were 9% better than the results from the first quarter. The company also expects to record higher revenues than the current range of analysts’ estimates. Market analysts believe that the company can grow another 6 percent to 7 percent in the fourth quarter.
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