“Revenue decreased 16% from the same quarter a year ago and increased 4% sequentially,” said CEo Haviv Ilan, “industrial and automotive continued to decline sequentially, while all other end markets grew.”
“Our cash flow from operations of $6.4 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production,” added Ilan, “free cash flow for the same period was $1.5 billion.”
“Over the past 12 months we invested $3.7 billion in R&D and SG&A, invested $5.0 billion in capital expenditures and returned $4.9 billion to owners,” said Ilan, “TI’s third quarter outlook is for revenue in the range of $3.94 billion to $4.26 billion.”
TI’s shares rose 4% after the earnings announcement as analysts priced in a recovery in the analogue market,
