By Sam Boughedda
Investing.com — Texas Instruments Incorporated (NASDAQ:TXN) announced earnings per share of $2.31 on revenue of $4.83 billion. Analysts polled by Investing.com anticipated EPS of $1.95 on revenue of $4.43 billion.
The semiconductor manufacturing company's revenue increased 19% from the same quarter last year, which TI explained was driven by strong demand in industrial and automotive markets.
Rich Templeton, TI's chairman, president and CEO, said the company's "cash flow from operations of $8.8 billion for the year again underscored the strength of our business model.
Adding: "This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter production."
Shares of Texas Instruments have risen more than 5% following the report.
Looking ahead, the firm revealed revenue for the first quarter is expected to be in the range of $4.5 billion to $4.9 billion and earnings per share is forecast at between $2.01 and $2.29.