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Wednesday, 12 September 2012 10:17

Texas Instruments surprises Wall Street

Written by Nick Farrell



Forecasts better than expected results

The cocaine nose jobs of Wall Street have been spluttering into their espressos after Texas Instruments announced that it is set to beat their low end estimates. Wall Street had smuggly declared that since TI was operating in a weaker economy it must be suffering from poor orders. However it seems that TI didn't get the memo.

It announced that profit will be 38 cents to 42 cents a share on revenue of $3.27 billion to $3.41 billion. Analysts on average had predicted earnings of 38 cents on sales of $3.34 billion in the current period. Sales rise about now because manufacturers are ramping up production for year-end holiday shoppers. While demand remains below normal, the report indicated that Texas Instruments is holding its own even as some regions recover slowly from an economic slump.

The chipmaker said revenue and profit were boosted by a $60 million insurance benefit from last year’s earthquake in Japan, as well as cost cuts.

Nick Farrell

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