Texas Instruments' Profit Up on Strong Chip Demand

Texas Instruments Inc reported a 12 percent rise in second-quarter profit, helped by strong demand for its chips used in the automotive, industrial and communications equipment markets.

Continue Reading Below

The Dallas-based chipmaker's net income rose to $779 million, or 76 cents per share, in the quarter ended June 30 from $696 million, or 65 cents per share, a year earlier.

Revenue rose 1 percent to $3.27 billion.

Texas Instruments shares were up 6 percent in extended trading. (Reporting by Ismail Shakil and Alan John Koshy in Bengaluru; Editing by Don Sebastian)