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TI Q2 revenues up 4% sequentially

Texas Instruments has reported Q2 revenues of $3.82 billion and net income of $1.13 billion.

Commented Haviv Ilan (pictured), TI’s President and CEO: “Revenue decreased 16% from the same quarter a year ago and increased 4% sequentially. Industrial and automotive continued to decline sequentially, while all other end markets grew.”

In the product segments, analogue revenues declined 11% year on year to $2.9 billion, embedded processing dipped 31% to $615 million and other products fell 22% to $279 million.

The company invested $3.7 billion in R&D and SG&A, and $5.0 billion in capital expenditures.

“Our results continued to reflect the asynchronous behaviour across our end markets that we’ve seen throughout this cycle,” said Ilan.

There was a mixed sequential performance from TI’s main market segments.

The industrial market was down low-single digits. The automotive market fell mid-single digits.

Personal electronics grew mid-teens, with broad-based growth, while demonstrating continued improvement compared to its low point in first quarter of 2023, and communications equipment was up mid-single digits. Enterprise systems rose about 20%.