TI 2Q revenue rises 42 pct as demand roars back

July 19, 2010
In this Jan. 25, 2010 file photo, a company logo is displayed outside Texas Instruments' offices in Sunnyvale, Calif. Texas Instruments Inc., reports quarterly earnings Monday, July 19, 2010, after the market close. (AP Photo/Paul Sakuma, file)

(AP) -- Texas Instruments Inc.' second-quarter income and revenue jumped as demand continued to recover after the recession. The company predicted even better results in the new quarter.

Shares of the company fell 6 percent, however, in extended trading after the release of results Monday.

TI said Monday that net income nearly tripled to $769 million, or 62 cents per share, for the quarter that ended June 30. That matched the average forecast of analysts polled by Thomson Reuters.

In the same period last year, TI earned $260 million, or 20 cents per share.

Revenue rose 42 percent to $3.5 billion, matching the average analyst forecast.

For the third quarter, TI forecasts of 64 cents to 74 cents per share. Analysts have been expecting 64 cents. TI says revenue should be $3.55 billion to $3.85 billion. Analysts put it at $3.65 billion.

Shares of TI, which is based in Dallas, fell $1.55, or 6.1 percent, to $24 in after-hours trading. Earlier, it rose 78 cents, or 3.15 percent, to close at $25.55.

Explore further: TI profit, revenue tumble on shrinking demand (Update)

0 shares

Related Stories

TI profit, revenue tumble on shrinking demand (Update)

April 20, 2009

(AP) -- Texas Instruments Inc. said Monday that first-quarter profit and revenue tumbled as competition heightened and demand for its chips shrank amid the recession, but the results still beat the company's own expectations ...

Verizon 1st-qtr profit, revenue beat expectations

April 27, 2009

(AP) -- Verizon Communications Inc. said Monday its earnings grew 5 percent in the first quarter, boosted by its acquisition of Alltel Corp. and strong demand for its wireless, Internet and TV services.

Texas Instruments 2Q profit falls 56 percent

July 20, 2009

(AP) -- Chip maker Texas Instruments says its second-quarter earnings fell 56 percent from a year ago, clipped by a weak economy that the company expects will "take some time" to strengthen.

TI 4Q profit, revenue soar on broad chip demand

January 25, 2010

(AP) -- Texas Instruments Inc. said Monday its fourth-quarter profit soared as factories that use its chips for a wide range of consumer gadgets and industrial products hummed straight through the typically slow December ...

Improvement in chip divisions boosts profit at TI

April 26, 2010

(AP) -- Texas Instruments Inc.'s first-quarter profit leaped after the chip maker improved results in all its product lines, and the company offered an outlook better than what financial analysts were expecting.

Rackspace 1Q profit rises

May 3, 2010

(AP) -- Rackspace Hosting Inc. said Monday that its first-quarter profit rose as managed hosting revenue climbed.

Recommended for you

Team develops targeted drug delivery to lung

September 2, 2015

Researchers from Columbia Engineering and Columbia University Medical Center (CUMC) have developed a new method that can target delivery of very small volumes of drugs into the lung. Their approach, in which micro-liters ...

Team creates functional ultrathin solar cells

August 27, 2015

(Phys.org)—A team of researchers with Johannes Kepler University Linz in Austria has developed an ultrathin solar cell for use in lightweight and flexible applications. In their paper published in the journal Nature Materials, ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.