Texas Instruments reports improved profits
The worldâ€™s largest manufacturer of mobile chips, Texas Instruments reported a 34% jump in their quarterly income. TI has reported a massive increase in sales of mobile chips and other components for electronic equipments. However, they have offered a not so exciting outlook for the first quarter of 2006.
TI reported earnings of $655 million, which comes to around 40 cents per share. This is an improvement over $490 million in the same period last year. The revenues for the company were up to $3.59 billion from $3.15 billion a year ago. This was somewhat below the market expectations of $3.64 billion.
These improved revenue figures helped the company increase their share value in the stock market by around 2%. Their performance is in contrast to competitors Intel Corporation which saw fall in sales and lost some ground in the stock markets. The company is facing serious competition from smaller player in the market AMD which has massively increased their market share in the last couple of months.