DALLAS -- Texas Instruments Inc. today reported its semiconductor sales grew 29% to $2.7 billion in the third quarter compared to $2.1 billion in the same period last year. Corporate-wide, TI's revenues were up 25% to $3.1 billion from $2.5 billion last year, including sales of calculators, materials and controls components.
For the third quarter, TI's income reached $591 million vs. $453 million in the period last year. The earnings for the third quarter were $0.38 per diluted share, which was higher than Wall Street's consensus of $0.33, according to First Call/Thomson Financial.
The Dallas company said it now expects its chip revenues to grow sequentially by "a few percentage points" in the fourth quarter. In the third quarter, TI's semiconductor sales grew 8% sequentially due to strong demand for digital signal processors and analog devices.
TI said its DSP revenues were up 36% in the third quarter from sales in the period last year. Sequentially, TI's DSP revenues grew 4% from the second quarter. Wireless chip revenues were up 37% from a year ago in the quarter and 2% sequentially from Q2.
