Texas Instruments Earnings, Sales Top Forecasts
Texas Instruments posted higher-than-expected results Monday, but the firm gave a tepid outlook for the current quarter.
Shares slipped after news the stock had already risen almost 26 percent since August.
The chipmaker reported fiscal third-quarter earnings of 71 cents a share. TI earned 42 cents a share during the same period a year earlier.
Sales for the most recent quarter rose to $3.74 billion, up from $2.88 billion last year.
The company was seen earning 69 cents a share on revenue of $3.69 billion, according to a consensus estimate from Thomson Reuters.
The company said it expects fiscal fourth-quarter revenue between $3.36 billion and $3.64 billion and earnings of 59 cents to 67 cents a share.
Wall Street analysts expected fourth quarter revenue of $3.51 billion and earnings of 63 cents a share.
Shares of TI were slightly lower in extended trading Monday. Get after-hour quotes for Texas Instruments here.
The shares closed at $28.98 in the regular New York Stock Exchange session. Volume exceeded 14 million shares before the closing bell.