Texas Instruments revenue beats Street

(Reuters) - Texas Instruments Inc on Monday reported higher-than-expected fourth-quarter revenue as demand for its chips improved more quickly than it had forecast.

The company, maker of chips for a broad array of products ranging from consumer electronics to industrial equipment, reported a profit of $298 million, or 25 cents per share, compared with $942 million, or 78 cents per share, in the year-ago quarter.

Revenue fell to $3.42 billion from $3.53 billion and compared with Wall Street expectations of $3.25 billion according to Thomson Reuters I/B/E/S.

TI had warned December 8 that chip demand was weak. It forecast fourth-quarter earnings per share in a range of 21 cents and 25 cents on revenue of $3.19 billion to $3.33 billion.

(Reporting by Sinead Carew; Editing by Steve Orlofsky)

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