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Oct 24 (Reuters) - Texas Instruments Inc reported a better-than-expected quarterly revenue and profit on Tuesday as the largest maker of analog semiconductors continues to benefit from a surge in demand for its chips from automotive and industrial customers.
The company's analog chips are used to calculate changes in sound and temperature and embedded chips are used in Internet of Things and personal devices.
Revenue from the two businesses accounted for nearly 87 percent of the company's total revenue in 2016.
The Dallas, Texas-based company's revenue from its analog division grew 16 percent to $2.7 billion in the third quarter.
The company forecast current-quarter profit of $1.01 to $1.15 per share and revenue of $3.57 billion to $3.87 billion.
Analysts on an average were expecting profit of $1.01 per share and revenue of $3.66 billion for the current quarter, according to Thomson Reuters I/B/E/S.
The company said net income rose to $1.29 billion, or $1.26 per share, in the third quarter ended Sept. 30, from $1.02 billion, or 98 cents per share, a year earlier.
Analysts on an average were expecting earnings of $1.12 per share.
The company's net revenue rose 12 percent, a sixth straight quarter of rise, to $4.12 billion, beating the average analysts' estimate of $3.91 billion.
Up to Tuesday's close, Texas Instruments' stock have risen 32 percent this year. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur and Shounak Dasgupta)