Texas Instruments Inc (NASDAQ:TXN) reported a 3% rise in quarterly revenue due to improved demand for its chips used in cars, appliances, computers and industrial products and strong growth in its analog chips business.
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The company's net income rose to $487 million, or 44 cents per share, in the quarter ended March 31 from $362 million, or 32 cents per share, a year earlier.
Revenue rose to $2.98 billion from $2.89 billion a year earlier.
The company is considered a barometer of the chip industry because it makes components for a variety of markets.
(Reporting by Lehar Maan in Bangalore; Editing by Kirti Pandey and Simon Jennings)