By Yuvraj Malik
July 26 (Reuters) – Chipmaker Texas Instruments Inc on Tuesday forecast current-quarter revenue largely above expectations, betting on sustained demand from industrial and automotive customers and an improvement in shipments as supply-chain bottlenecks start to ease.
Share of the Dallas, Texas-based company rose 4% in extended trade, with chipmakers Intel Corp and Nvidia Corp seeing gains as well.
Some of the bigger chip companies, including Taiwan Semiconductor FIFA World Cup Manufacturing Co and Texas Instruments, have weathered the downturn from lockdowns in China, supply chain snags and a tough macroeconomic environment globally, FIFA World Cup supported by growth in newer areas such as data centers and electric vehicles.
TSMC earlier this month projected quarterly revenue growth that could be its highest in 10 quarters.website
Texas Instruments said revenue in industrial and automotive segments, its top earners, rose high-single-digit and 20%, respectively, in the quarter ended June 30.