Texas Instruments Third-Quarter Revenue Jumps 28% to $6.06 Billion: Net Income $2.43 Billion, EPS $2.62, Fourth-Quarter Outlook of $5.80–$6.30 Billion
DALLAS — Texas Instruments Incorporated (Nasdaq: TXN) on Wednesday, October 21, reported third-quarter revenue of $6,055 million, up 28 percent from a year earlier and up 11 percent sequentially, with operating profit of $2,874 million, up 73 percent, net income of $2,425 million, up 78 percent, and earnings per share of $2.62, up 77 percent. Earnings per share included a 1-cent reduction that was not in the company's original guidance, due to discrete tax items. Gross profit was $3,887 million, against $2,723 million a year earlier.
Analog revenue was $4,911 million, up 32 percent, with operating profit of $2,505 million, up 69 percent. Embedded Processing revenue was $858 million, up 21 percent, with operating profit of $227 million, up 110 percent. The "Other" segment posted revenue of $286 million, down 6 percent, and operating profit of $142 million, up 106 percent.
"Revenue increased 11% sequentially and 28% from the same quarter a year ago with continued broad growth in industrial, automotive and data center," said Haviv Ilan, TI's chairman, president and CEO. "Our cash flow from operations of $9.9 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production. Free cash flow for the same period was $8.4 billion." Over the past 12 months, the company invested $4.0 billion in R&D and SG&A and $2.6 billion in capital expenditures, and returned $5.8 billion to owners, Ilan said.
Cash flow from operations was $3,419 million in the quarter and free cash flow was $2,956 million; trailing-12-month free cash flow of $8,422 million was up 249 percent and equal to 40.6 percent of revenue, against 14.0 percent a year earlier. The company ended the quarter with $4,211 million in cash and cash equivalents and $3,931 million in short-term investments. TI's fourth-quarter outlook is for revenue in the range of $5.80 billion to $6.30 billion and earnings per share between $2.45 and $2.79.
Published by GSM · USA (original Chinese edition)
Photo: 图：德州仪器达拉斯总部标识（资料图）。Tony Webster 摄，CC BY 2.0，取自维基共享资源。Photo: Sign at Texas Instruments' Dallas headquarters (file photo). By Tony Webster, CC BY 2.0, via Wikimedia Commons.
