Texas Instruments Inc is riding the wave of popularity for wireless communications with third quarter profits more than doubling. Income was up at $383m, compared to $155m for the same period last year. Revenues were $2.39bn, up from $2.11bn for the quarter a year ago. TI’s $0.47 earnings per share beat first call estimates of $0.43.
The latest results continue a buoyant trend for TI, as it focuses on digital signal processors for mobile phones and wireless communications and moves away from the memory chip market. As well as maintaining its dominant position in the phone market, the company is now looking at providing silicon emerging markets such as ADSL, voice-over-IP and cable modems. We expect steady semiconductor growth to continue in the fourth quarter, said CEO Tom Engibous.
