(Reuters) - Texas Instruments Inc reported its first quarterly revenue growth in nearly two years on Tuesday, a rebound the chipmaker credited to people stuck at home splurging on electronic gadgets for remote work and entertainment during the COVID-19 pandemic.
Shares of the company, which also forecast current-quarter sales above estimates, were up nearly 2%.
TI, which supplies chips for everything from smartphones to automobiles, often reports quarterly results before its peers. Investors watch its numbers closely as a proxy for both the health of the industry and other sectors where semiconductors are key components.
The Dallas, Texas-based company said its sales also benefited from a notable rebound in demand from the automotive market, which grew 75% from the preceding quarter as North American and European vehicle assembly plants resumed operations.
"While visibility ...
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