Texas Instruments (TXN) Higher After Strong Third Quarter Results
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Shares of Texas Instruments (NYSE: TXN) are up 2% in after-hours trading after reporting better than expected third quarter result and giving a solid outlook.
Texas Instruments reported Q3 EPS of $0.42, 3 cents better than the analyst estimate of $0.39. Revenue for the quarter fell 15% to $2.88 billion, which compares to the estimate of $2.82 billion. Revenue rose 17% sequentially. The strong third quarter was led by a second consecutive quarter of 20% growth in Analog. Orders were $3.11 billion, down 4% from a year ago but up 11% from the prior quarter.
Texas Instruments sees Q4 revenue $2.78-$3.02 billion, versus the consensus of $2.78 billion. The company sees EPS of $0.43-$0.51, versus consensus of $0.40.
Texas Instruments CEO Rich Templeton said the company is encouraged with the strong sequential increase in demand for its products over the past two quarters as customers are winding down their inventory corrections and have begun to increase production levels in their factories.
UPDATE: Click here to see some highlights from Texas Instrument's Q3 conference call.
Texas Instruments reported Q3 EPS of $0.42, 3 cents better than the analyst estimate of $0.39. Revenue for the quarter fell 15% to $2.88 billion, which compares to the estimate of $2.82 billion. Revenue rose 17% sequentially. The strong third quarter was led by a second consecutive quarter of 20% growth in Analog. Orders were $3.11 billion, down 4% from a year ago but up 11% from the prior quarter.
Texas Instruments sees Q4 revenue $2.78-$3.02 billion, versus the consensus of $2.78 billion. The company sees EPS of $0.43-$0.51, versus consensus of $0.40.
Texas Instruments CEO Rich Templeton said the company is encouraged with the strong sequential increase in demand for its products over the past two quarters as customers are winding down their inventory corrections and have begun to increase production levels in their factories.
UPDATE: Click here to see some highlights from Texas Instrument's Q3 conference call.
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