Analog chip powerhouse Texas Instruments this afternoon reported Q4 revenue and profit that both topped Wall Street's expectations, and an outlook for this quarter's results that was higher as well. 

The report sent Texas Instruments shares surging by 6% in late trading. 

CEO Rich Templeton remarked that revenue growth was "driven by strong demand in industrial and automotive markets."

Revenue in the three months ended in December rose 19%, year over year, to$4.83 billion, yielding a net profit of$2.27 a share.

Analysts had been modeling$4.43 billion and$1.94 per share.

TI's analog chip revenue was up 20%, while revenue from its embedded chips was up 6%, and a third category of "other" revenue rose 35%.

Templeton added that the company's free cash flow for all of 2021,$6.3 billion, which rose 15%, "reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter production."

For the current quarter, the company sees revenue of$4.5 billion to$4.9 billion, and EPS in a range of$2.01 to$2.29. That compares to consensus for$4.4 billion and a$1.91 profit per share.

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