TI, which supplies chips for everything from smart phones to automobiles, often reports quarterly results before its peers. Investors watch its numbers closely as a proxy for both the health of the industry and other sectors where semiconductors are key components.

The company's sales to the personal electronics market shot up 20% in the second quarter due to the switch to remote work, Dave Pahl, head of investor relations, told analysts on a conference call.

When asked if TI sees China's efforts to ramp up domestic semiconductor capabilities as a meaningful threat, Chief Financial Officer Rafael Lizardi said the company's competitive advantages put it in a good place to compete against any challenges.

Shares of TI, which also beat second-quarter revenue and profit estimates, were up more than 1% in extended trading.

TI said it expects current-quarter revenue in the range of $3.26 billion and $3.54 billion, above analysts' expectations of $3.12 billion, according to IBES data from Refinitiv.

Total revenue fell about 12% to $3.24 billion, but came in above estimates of $2.94 billion.

The overall revenue was impacted due to a 40% slump in sales to the automotive market, without which second-quarter revenue was down 3% from a year ago, Pahl said.

Net income rose 6% to $1.38 billion, or $1.48 per share, in the quarter ended June 30, beating estimates of 88 cents.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)