Analog chipmaker Texas Instruments sees quarterly sales above estimates

Texas Instruments

Yesterday 21:34

Oct 21 (Reuters) - Texas Instruments TXN.O forecast fourth-quarter revenue above Wall Street estimates on Wednesday, a sign of recovery in industrial chip demand and growing momentum for its AI data-center chips. 
Unlike Nvidia NVDA.O, which makes high-performance AI processors,  Dallas, Texas-based TI produces analog chips that manage power and convert real-world inputs such as sound, light and temperature into digital signals for other semiconductors to process
The analog chipmaker expects fourth-quarter revenue between $5.80 billion and $6.30 billion, above analysts' average estimate of $5.73 billion, according to data compiled by LSEG.
Quarterly profit is expected to be between $2.45 and $2.79 per share
Texas Instruments, one of the first major chipmakers to post quarterly results, is widely considered a bellwether for the broader electronics and semiconductor industries
Its analog and embedded chips are used in smartphones, laptops, cars as well as factory equipment
TI's third-quarter revenue rose 28% to $6.06 billion from the same period last year, topping estimates of $5.92 billion. Quarterly profit rose 77% to $2.62 per share.
"Our cash flow from operations of $9.9 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production," CEO Haviv Ilan said

 (Reporting by Anhata Rooprai in Bengaluru; Editing by Shreya Biswas)
 ((Anhata.Rooprai@thomsonreuters.com))