Texas Instruments quarterly results, outlook top Wall Street expectations
Texas Instruments Inc.’s
TXN,
quarterly results and outlook both topped Wall Street estimates in the extended session Tuesday, but the chip maker’s stock slipped after hours. Texas Instruments shares were down 1% after hours, following a 0.8% decline in the regular session to close at $171.47. The company reported fourth-quarter net income of $1.69 billion, or $1.80 a share, compared with $1.07 billion, or $1.12 a share, in the year-ago period. Revenue rose to $4.08 billion from $3.35 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.34 a share on revenue of $3.61 billion. Texas Instruments forecast earnings of $1.44 to $1.66 a share on revenue of $3.79 billion to $4.11 billion for the first quarter. Analysts had estimated $1.34 a share on revenue of $3.59 billion.
