Daily Journal masthead

Texas Instruments tops 4Q profit expectations, but misses revenue forecasts

bug
Share/Save/Bookmark

DALLAS — Texas Instruments Inc. (TXN) on Wednesday reported fourth-quarter earnings of $836 million.

The Dallas-based company said it had net income of 80 cents per share. Earnings, adjusted for non-recurring gains, came to 71 cents per share.

The results topped Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The chipmaker posted revenue of $3.19 billion in the period, which missed Street forecasts. Fourteen analysts surveyed by Zacks expected $3.2 billion.

For the year, the company reported profit of $2.99 billion, or $2.82 per share. Revenue was reported as $13 billion.

For the current quarter ending in April, Texas Instruments said it expects revenue in the range of $2.85 billion to $3.09 billion. Analysts surveyed by Zacks had expected revenue of $3.13 billion.

Texas Instruments shares have declined nearly 8 percent since the beginning of the year, while the Standard & Poor's 500 index has declined almost 8 percent. In the final minutes of trading on Wednesday, shares hit $50.67, a fall of roughly 8 percent in the last 12 months. The stock added 2.6 percent in after-hours trading, to $52.

_____

Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXN at http://www.zacks.com/ap/TXN

_____

Keywords: Texas Instruments, Earnings Report

Think your friends should see this? Share it with them!

Story copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow Daily Journal:

All content copyright ©2016 Daily Journal, a publication of AIM Media Indiana unless otherwise noted.
All rights reserved. Privacy policy.