Texas Instruments posts rare revenue rise as consumers splurge on electronics
(Reuters) – Texas Instruments Inc reported its first quarterly revenue progress in virtually two years on Tuesday, a rebound the chipmaker credited to of us caught at dwelling splurging on digital gadgets for distant work and leisure in the midst of the COVID-19 pandemic.
Shares of the company, which moreover forecast current-quarter product sales above estimates, have been up virtually 2%.
TI, which offers chips for the whole thing from smartphones to automobiles, usually tales quarterly outcomes sooner than its associates. Investors watch its numbers fastidiously as a proxy for every the nicely being of the enterprise and totally different sectors the place semiconductors are key components.
The Dallas, Texas-based agency talked about its product sales moreover benefited from a notable rebound in demand from the automotive market, which grew 75% from the earlier quarter as North American and European car assembly crops resumed operations.
“While visibility …