By Maria Armental

 

Texas Instruments Inc. reported a 22% revenue increase on strong demand in industrial, automotive and personal electronics. Here's what you need to know:

PROFIT: Net income rose to $1.95 billion from $1.35 billion a year earlier. On a per-share basis, profit was $2.07. TI projected $1.87 to $2.13 a share, while analysts surveyed by FactSet expected about $2.05 a share.

REVENUE: Revenue rose to $4.64 billion from $3.82 billion a year earlier. TI had projected $4.40 billion to $4.76 billion, and analysts expected about $4.66 billion.

OUTLOOK: For the fourth quarter, TI projects a profit of $1.83 to $2.07 a share on $4.22 billion to $4.58 billion in revenue, compared with analysts' projected $1.93 a share and $4.45 billion in revenue.

INVENTORY: Inventory was $1.86 billion, down from $2.07 billion a year earlier.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

October 26, 2021 16:24 ET (20:24 GMT)

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