Semiconductor giant Texas Instruments this afternoon reported Q4 revenue and profit that easily topped analysts' expectations, and forecast this quarter's results higher as well, sending its shares higher in late trading.
CEO Rich Templeton pointed to a rebound in the market for automotive chips, citing "strong demand in automotive, personal electronics and industrial markets.
In our core businesses, Analog revenue grew 9% and Embedded Processing grew 11% sequentially. From a year ago, Analog revenue grew 25% and Embedded Processing grew 14%. Our cash flow from operations of $6.1 billion for the year again underscored the strength of our business model. Free cash flow for the year was $5.5 billion and 38% 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.
Revenue in the three months ended in December rose 22%, year over year, to $4.08 billion, yielding EPS of $1.80.
Analysts had been modeling $3.61 billion and $1.34 per share.
Gross profit margin came in at 64.92%, higher than the year-earlier level of 62.6%.
For the current quarter, the company sees revenue in a range of $3.79 billion to $4.11 billion, and EPS of $1.44 to $1.66. Those are both well above expectations for $3.59 billion and $1.34.
T.I. shares rose in late trading to $173.91.