Texas Instruments expects revenue growth in first quarter

Chipset company Texas Instruments (TI) said it expects first-quarter revenue in a range of $3.79 billion to $4.11 billion.
Texas Instruments HQTexas Instruments is expecting sales growth for a third straight quarter after two years of decline, buoyed by strong chip demand from the personal electronics market.

Total revenue of Texas Instruments rose to $4.08 billion from $3.35 billion a year earlier.

Chip sales to personal electronics market jumped 39 percent, driven by consumers splurging on laptops and tablets to aid remote work and learning.

Texas Instruments said it also saw strong demand from automotive and industrial markets, benefiting from a growing number of chip components in their products.

TI’s net income rose to $1.69 billion, or $1.80 per share, in the fourth quarter ended Dec. 31, from $1.07 billion, or $1.12 per share, a year earlier.