The US chip company Texas Instruments performed better than expected in the fourth quarter, despite a decline in profit and sales. The surplus fell 14 percent to $ 1.07 billion, the company said yesterday after the market closed.
Revenue plunged 10 percent to $ 3.35 billion. Both indicators were above the experts’ average estimates.
For the current quarter, Texas Instruments expects to see increased demand for chips used to build 5G networks. In addition, most of its markets showed signs of stabilization. The company anticipates revenues of $ 3.12 billion to $ 3.38 billion. Analysts had previously calculated $ 3.21 billion.
Texas Instruments is considered an industry barometer because the group produces chips for a wide range of products, such as household appliances, vehicle controls and consumer electronics. Texas Instruments stock fell 1.5 percent after the hour.
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