Chipmaker Texas Instruments (TXN) late Tuesday beat estimates for earnings in the third quarter but came up short on sales. TXN stock fell in extended trading.
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The Dallas-based company earned $1.85 a share on sales of $4.53 billion in the September quarter. Analysts polled by FactSet had predicted TI earnings of $1.82 a share on sales of $4.58 billion. In the year-earlier period, Texas Instruments earned $2.47 a share on sales of $5.24 billion.
TI’s report marked the company’s fourth straight quarter of declining sales and earnings on a year-over-year basis.
In after-hours trading on the stock market today, TXN stock sank 4% to 141. During the regular session Tuesday, TXN stock advanced 0.4% to close at 146.92.
Earnings report details to follow.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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