The report sent Texas Instruments shares surging by 6% in late trading. CEO Rich Templeton remarked that revenue growth was “driven by strong demand in industrial and automotive markets.” Revenue in the three months ended in December rose 19%, year over year, to $4.83 billion, yielding a net profit of $2.27 a share. Analysts had been modeling $4.43 billion and $1.94 per share. TI’s analog chip revenue was up 20%, while revenue from its embedded chips was up 6%, and a third category of “other” revenue rose 35%. Templeton added that the company’s free cash flow for all of 2021, $6.3 billion, which rose 15%, “reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter production.” For the current quarter, the company sees revenue of $4.5 billion to $4.9 billion, and EPS in a range of $2.01 to $2.29. That compares to consensus for $4.4 billion and a $1.91 profit per share.
