The company, the world’s biggest supplier of cell-phone chips, earned $668m, or 45 cents a share, for the quarter, up from $655m, or 40 cents, a year ago. Analysts had hoped for 38 cents, according to Thomson Financial.
Profit for its fourth quarter, which ended December 31, included a 5-cent-a-share boost from the reinstatement of a federal research tax credit.
Revenue during the period rose 4% to $3.46bn from $3.32bn last year, largely thanks to stronger demand for its calculator products. Elsewhere, the company said it was an unseasonable weak fourth quarter.
The company saw orders fall $411m from the year-ago quarter to $3bn, driven by soft demand for its digital signal processing products.
To offset continuing weak demand, TI said it would cut about 500 jobs, mostly in its home-town of Dallas, which would save it about $200m annually. No further details about the planned job losses were provided.
Shares in the company rose nearly 2.5% to $29.28 in after-hours trading on the New York Stock Exchange.
