TI reported a 10% rise in quarterly revenues to a record $3.59bn as more of its chips were used in mobile phones and electronic devices. TI adjusted their earnings for the first timer to take account of stock options and their stock price was later hit by the weaker than expected earnings per share.
They predicted revenues largely flat for the 4th quarter with earnings a little higher. Analysts wanted more, but TI seems to be delivering solid results and gains on the back of their leadership position in both the high and low end of the cellphone market.
It was interesting to note that revenues from 3G phones looks like they will exceed $1bn for this year, up significantly on last year.