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TI reports results for 2Q08 22-07-08

Texas Instruments announced second-quarter revenue of $3.35 billion, and net income of $588 million. The revenue declined 2 percent compared with the second quarter of last year as growth in Analog and Embedded Processing was not sufficient to offset declines in Wireless and Other revenue. Revenue grew 2 percent compared with the prior quarter as growth in Analog, Embedded Processing and Other more than offset the decline in Wireless. Income declined 4 percent from the year-ago quarter due to lower interest income. Income declined 11 percent from the prior quarter due to a higher tax provision. The prior quarter included $81 million of discrete tax benefits.

 


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