TI first-quarter profit rose 12%

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Tuesday April 19, 05:41

TI first-quarter profit rose 12%

(by Peter Van Bruggen)

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Texas Instruments, the world’s largest maker of chips for cellphones, reported that its first-quarter profit rose 12% on costs saving programes.

Profit increased to $411 million, $0.24 a share, from $367 million, or 21 cents a share, in the previous year. Revenue rose to $2.97 billion, from $2.94 billion last year. Analysts were expecting $0.23 a share.

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