It announced that profit will be 38 cents to 42 cents a share on revenue of $3.27 billion to $3.41 billion. Analysts on average had predicted earnings of 38 cents on sales of $3.34 billion in the current period. Sales rise about now because manufacturers are ramping up production for year-end holiday shoppers. While demand remains below normal, the report indicated that Texas Instruments is holding its own even as some regions recover slowly from an economic slump.
The chipmaker said revenue and profit were boosted by a $60 million insurance benefit from last year’s earthquake in Japan, as well as cost cuts.