The entrance sign to the Texas Instruments corporate campus is shown in Dallas, Saturday, Jan. 21, 2006 in Texas. (AP Photo/L.M. Otero)
Texas Instruments' second-quarter income and revenue jumped as demand continued to recover after the recession. The company predicted even better results in the new quarter. Texas Instruments Inc. said Monday that net income nearly tripled to $769 million, or 62 cents per share, for the quarter that ended June 30. That matched the average forecast of analysts polled by Thomson Reuters.
In the same period last year, TI earned $260 million, or 20 cents per share. Revenue rose 42 percent to $3.5 billion, matching the average analyst forecast. For the third quarter, TI forecasts net income of 64 cents to 74 cents per share. Analysts have been expecting 64 cents. TI says revenue should be $3.55 billion to $3.85 billion. Analysts put it at $3.65 billion.