Texas Instruments Q3 Results Beat Street View, Outlook Strong

(RTTNews) - Texas Instruments Inc. (TXN) on Tuesday reported a third-quarter profit and revenues that trumped Wall Street analysts' expectations. The company also issued a financial guidance for the fourth quarter, which is expected to beat current estimates.

Dallas, Texas-based Texas Instrument's third-quarter profit dropped to $1.35 billion or $1.45 per share from $1.43 billion or $1.49 per share last year. Analysts polled by Thomson Reuters expected the company to earn $1.27 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter rose 1.3% to $3.82 billion from $3.77 billion last year. Analysts had a consensus revenue estimate of $3.43 billion for the quarter.

Analog revenue grew 7% and Embedded Processing declined 10%.

Looking forward to the fourth quarter, the company expects revenues of $3.41 billion to $3.69 billion and earnings between $1.20 and $1.40 per share. Analysts currently estimate earnings of $1.19 per share on revenues of $3.33 billion.

TXN closed Tuesday's trading at $150.83, up $0.07 or 0.05%, on the Nasdaq. The stock further gained $1.67 or 1.11% in the after-hours trading.