Texas Instruments earnings: 42 cents EPS, $3.05 billion revenue vs. expectations of 41 cents EPS, $3.06 billion revenue
Texas Instruments reported second-quarter earnings that beat Wall Street forecasts on better chip demand for auto and communications customers, sending the shares higher in after-hours trading.
The chip maker posted earnings excluding items of 42 cents a share, beating Wall Street forecasts by a penny.
Revenue fell 9 percent to $3.05 billion from $3.34 billion a year earlier. Analysts were looking for sales of $3.06 billion, according to Thomson Reuters estimates.
For the third quarter, TI said it expects earnings to come in between 49 cents and 57 cents a share on revenue of $3.09 billion to $3.35 billion. Analysts currently forecast earnings of 50 cents a share on revenue of $3.2 billion.
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