Texas Instruments’ fourth quarter outlook is for revenue in the range of $3.41 billion to $3.69 billion
Texas Instruments Incorporated (TI) has reported third quarter revenue of $3.82 billion. The company’s net income in the quarter was $1.35 billion and earnings per share of $1.45.
“Revenue increased 18 per cent sequentially with notable strength from the rebound of automotive demand and growing demand from personal electronics. Revenue increased one per cent from the same quarter a year ago,” Rich Templeton, TI’s chairman, president and CEO.
Analog revenue grew 18 per cent
TI’s analog revenue grew 18 per cent and embedded processing grew 19 per cent sequentially. From a year ago, company’s analog revenue grew seven per cent and embedded processing declined 10 per cent.
Templeton 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 per cent 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.”
“We have returned $6.4 billion to owners in the past 12 months through stock repurchases and dividends. Over the same period, our dividends represented 64 per cent of free cash flow, underscoring their sustainability. In September, we announced we would increase our dividend by 13 per cent. Together, our stock repurchases and dividends reflect our continued commitment to return all free cash flow to our owners,” he said.
TI’s fourth quarter outlook is for revenue in the range of $3.41 billion to $3.69 billion, and earnings per share between $1.20 and $1.40. The company had reported revenue figures of $3.24 billion in the second quarter of 2020.