Texas Instruments Profits Increase 42% in First Quarter

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Texas Instruments Profits Increase 42% in First Quarter

6:00 am on April 20, 2006 | Category: Business, Corporate

The world’s leading wireless chipmaker, Texas Instruments, has reported a 42% increase in net earnings for the first quarter of 2006.

The company’s profits worked out to a total of $585 million, or $0.36/share, over $411 million, or $0.24/share in the same period of 2005. Total revenue also increased, with sales rising 23% to $3.3 billion for the quarter.

These results exceed those predicted by analysts, with a Thomson First Call survey showing average predictions of $3.287 billion in revenue and profits of $0.32 per share.

Texas Instruments’ very solid results sent the company’s shares up $0.45 (1.3%) yesterday to close at $34.45. The stock reached a peak of $34.74 over the course of the trading day.