Texas Instruments Q3 Results Top Estimates, but Weaker Guidance Weighs
By Yasin Ebrahim
Investing.com -- Chipmaker Texas Instruments reported Tuesday third-quarter earnings that topped analysts' expectations, but its current quarter outlook fell short of estimates.
Texas Instruments (NASDAQ: TXN) shares fell nearly 6% in after-hours trade following the report.
Texas Instruments announced earnings per share of $2.45 on revenue of $5.24B. Analysts polled by Investing.com anticipated EPS of $2.39 on revenue of $5.14B.
During the quarter, the company said it "experienced expected weakness in personal electronics and expanding weakness across industrial."
Analog revenue, which makes up the bulk of overall revenue, increased 13% year-on-year in the quarter, while embedded processing gained 11%.
Texas Instruments guided fourth-quarter revenue in the range of $4.40 billion to $4.80 billion, and earnings per share between $1.83 and $2.11. That was below estimates for earnings of $2.24 a share on revenue of $4.95 billion.