Texas Instruments Q2 profit rises 52% as revenue beats estimates

TI forecasts Q3 revenue above Wall Street estimates

Texas Instruments on Wednesday reported second-quarter profit of $1.98 billion, up 52% from $1.30 billion a year earlier, as revenue grew 23% to $5.46 billion, beating analyst forecasts.

The Dallas-based semiconductor maker posted earnings per share of $2.14, compared with $1.41 a year earlier. The results included a $0.05 per-share benefit not included in the company’s prior guidance. Analysts surveyed by FactSet had expected revenue of $5.26 billion.

The company said revenue growth was broad-based, led by demand from industrial, data center, and automotive customers.

Texas Instruments invested $3.9 billion in research and development and selling, general, and administrative expenses over the past 12 months, and $3.3 billion in capital expenditures during that period.

For the third quarter, the company forecast revenue between $5.65 billion and $6.15 billion, at a midpoint of $5.9 billion, and earnings per share between $2.23 and $2.57. Analysts polled by FactSet had expected revenue of $5.63 billion and EPS of $2.18.