UPDATE 1-Texas Instruments forecast current-quarter revenue above estimates

(Adds share movement, estimates and additional details on quarter)

Oct 20 (Reuters) - Texas Instruments Inc reported a surprise jump in quarterly revenue and forecast fourth-quarter sales above Wall Street estimates on Tuesday, bolstered by a global shift to work from home that has boosted demand for its chips used in electronic products.

The Dallas, Texas-based company, the first big chipmaker to report this earnings season, said sales benefited from a notable rebound in automotive demand, as well as chip sales for personal electronics.

TI shares were up 2% in extended trading.

The company, whose broad lineup of products make it a proxy for the chip industry, said it expected fourth-quarter revenue in a range of $3.41 billion to $3.69 billion, above analysts' expectations of $3.34 billion, according to IBES data from Refinitiv.

Total revenue in the third quarter rose to $3.82 billion from $3.77 billion last year, above Wall Street estimates of $3.45 billion. (Reporting by Munsif Vengattil; Editing by Bernard Orr)

10/20/2020 20:15

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