Texas Instruments (TXN) Tops Q3 Views, But Light Outlook Sends Investors Packing
Tweet
Share
E-mail
Get Alerts TXN Hot Sheet
Price: $264.36 -0.47%
Financial Fact:
Interest and debt expense: 18M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Interest and debt expense: 18M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Shares of Texas Instruments Inc. (NYSE: TXN) are in negative territory Monday afternoon amid strong third-quarter results, but guidance which failed to spur buying.
Revenue fell about 7.3 percent from $3.740 billion during the same quarter last year to $3.466 billion.
Net income dropped just over 30 percent to $601 million, or 51 cents per share. Excluding charges related to the National Semi acquisition, earnings were 60 cents per share.
The Street was looking for revenue of $3.33 billion and earnings of 58 cents per share.
Shoeing the largest drop in the quarter was TI's Embedded Processing unit with a 10 percent decline in revs and a 20 percent dip in operating profit, which the company chalks up to catalog products.
At the end of the quarter, inventory rose $541 million from the same period last year to $1.97 billion. Book value per share appears to have increased from $9.44 last quarter to about $9.53.
Looking ahead, TXN sees fourth-quarter earnings of 28 to 36 cents per share. The quarter is expected to "be negatively impacted by about 15 cents from acquisition-related costs in the fourth quarter." The Street is currently looking for earnings of 54 cents per share. Revenue in the quarter expected to be $3.26 to $3.54 billion, right inline with expectations for $3.43 billion.
Shares of Texas Instruments are now down about 1.5 percent after the close.
Revenue fell about 7.3 percent from $3.740 billion during the same quarter last year to $3.466 billion.
Net income dropped just over 30 percent to $601 million, or 51 cents per share. Excluding charges related to the National Semi acquisition, earnings were 60 cents per share.
The Street was looking for revenue of $3.33 billion and earnings of 58 cents per share.
Shoeing the largest drop in the quarter was TI's Embedded Processing unit with a 10 percent decline in revs and a 20 percent dip in operating profit, which the company chalks up to catalog products.
At the end of the quarter, inventory rose $541 million from the same period last year to $1.97 billion. Book value per share appears to have increased from $9.44 last quarter to about $9.53.
Looking ahead, TXN sees fourth-quarter earnings of 28 to 36 cents per share. The quarter is expected to "be negatively impacted by about 15 cents from acquisition-related costs in the fourth quarter." The Street is currently looking for earnings of 54 cents per share. Revenue in the quarter expected to be $3.26 to $3.54 billion, right inline with expectations for $3.43 billion.
Shares of Texas Instruments are now down about 1.5 percent after the close.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- BofA maintains underperform ratings on six BDC stocks
- CoStar Group acquires Zonda for $800M, adding new home data
Create E-mail Alert Related Categories
Corporate News, EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
