Texas Instruments Incorporated (TXN) reported third-quarter revenue of $6.06 billion, up 28% from a year earlier after year-over-year growth of 23% in the second quarter and 19% in the first. Sequential revenue rose 11% from $5.46 billion in the second quarter. Chairman, president and chief executive Haviv Ilan said the increase reflected continued broad growth in industrial, automotive and data center.

Operating profit rose 73% from a year earlier to $2.87 billion, a faster year-over-year increase than the 48% recorded in the second quarter. Net income was $2.43 billion, or $2.62 a share, versus $1.36 billion, or $1.48 a share, a year earlier. Earnings per share included a 1-cent reduction that was not in the company’s original guidance.

Gross profit expanded to $3.89 billion from $3.35 billion in the second quarter, with cost of revenue at $2.17 billion. Research and development spending was $530 million and selling, general and administrative expense $476 million. Acquisition charges were $7 million; the year-ago quarter included $85 million of restructuring charges and other items.

Analog, the company’s larger reportable segment, generated $4.91 billion of revenue, up 32% from a year earlier, and $2.51 billion of operating profit. Embedded Processing revenue was $858 million and operating profit $227 million. Other revenue declined 6% to $286 million; Other operating profit was $142 million and included acquisition charges.

Cash flow from operations for the three months ended September 30 was $3.42 billion. Capital expenditures were $463 million, down from $1.20 billion in the year-ago quarter. Cash and cash equivalents were $4.21 billion at quarter-end, with short-term investments of $3.93 billion.

For the trailing 12 months ended September 30, cash flow from operations was $9.9 billion and free cash flow $8.4 billion, versus $8.7 billion and $6.5 billion two quarters earlier. Free cash flow was 40.6% of revenue for the period. Over the same 12 months the company invested $4.0 billion in research and development and selling, general and administrative costs, $2.6 billion in capital expenditures, and returned $5.8 billion to owners.

Stock repurchases were $48 million in the quarter and $636 million over the trailing 12 months, down 61% from $1.61 billion a year earlier. Dividends paid were $1.30 billion in the quarter. Cash dividends declared were $1.42 a share.

TI’s fourth-quarter outlook is for revenue in the range of $5.80 billion to $6.30 billion and earnings per share between $2.45 and $2.79. That compares with a third-quarter outlook of $5.65 billion to $6.15 billion of revenue and $2.23 to $2.57 a share.

The semiconductor company designs, manufactures and sells analog and embedded processing chips for industrial, automotive, data center, personal electronics and communications equipment.