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TEXAS INSTRUMENTS TI reports second quarter 2021 financial results and shareholder returns Conference call on Tl website at 3:30 p.m. Central time today www.ti.com/ir DALLAS , July 21 , 2021 / PRNewswire / -- Texas Instruments Incorporated ( TI ) ( Nasdaq : TXN ) today reported second quarter revenue of $ 4.58 billion , net income of $ 1.93 billion and earnings per share of $ 2.05 . Earnings per share included a 6 - cent benefit for items that were not in the company's original guidance . Regarding the company's performance and returns to shareholders , Rich Templeton , TI's chairman , president and CEO , made the following comments : • " Revenue increased 7 % sequentially and increased 41 % from the same quarter a year ago due to strong demand in industrial , automotive and personal electronics . • " In our core businesses , Analog revenue grew 6 % and Embedded Processing grew 2 % sequentially . From a year ago , Analog revenue grew 42 % and Embedded Processing grew 43 % . • " Our cash flow from operations of $ 7.5 billion for the trailing 12 months again underscored the strength of our business model . Free cash flow for the same period was $ 6.5 billion and 39 % of revenue . This reflects the quality of our product portfolio , as well as the efficiency of our manufacturing strategy , including the benefit of 300 - millimeter Analog production . • " We returned $ 3.9 billion to owners in the past 12 months through dividends and stock repurchases . Over the same period , our dividend represented 56 % of free cash flow , underscoring its sustainability . • " TI's third quarter outlook is for revenue in the range of $ 4.40 billion to $ 4.76 billion and earnings per share between $ 1.87 and $ 2.13 . We continue to expect our 2021 annual operating tax rate to be about 14 % . " Free cash flow , a non - GAAP financial measure , is cash flow from operations less capital expenditures . Earnings summary Amounts are in millions of dollars , except per - share amounts . Q2 2021 Q2 2020Change Revenue Operating profit Net income $ 4,580 $ 3,239 41 % $ 2,213 $ 1,228 80 % 40 % $ 1,931 $ 1,380 Earnings per share $ 2.05 $ 1.48 39 % Cash generation Amounts are in millions of dollars . Cash flow from operations Capital expenditures Free cash flow Free cash flow % of revenue Cash return Trailing 12 Months Q2 2021 Q2 2021 Q2 2020Change $ 2,121 $ 7,539 $ 6,317 19 % $ 386 $ 1,052 $ 603 74 % $ 1,735 $ 6,487 $ 5,714 14 % 38.7 % 41.7 % Amounts are in millions dollars . Trailing 12 Months Q2 2021Q2 2021 Q2 2020Change 942 $ 3,644 $ 3,226 13 % 146 $ 276 $ 3,468 ( 92 ) % 1,088 $ 3,920 $ 6,694 ( 41 ) % Dividends paid $ Stock repurchases $ Total cash returned $ TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES Consolidated Statements of Income ( Millions of dollars , except share and per - share amounts ) For Three Months Ended June 30 , 2021 2020