Texas Instruments Q3 Beats on EPS, Revenue
Texas Instruments shares are lower in post-market trading following the release of its Q3 results. For the quarter, revenue was $3.24 billion, down 4% from the $3.39 billion in the same period the previous year. Net income landed at $629 million ($0.56 per diluted share), or 20% below Q3 2012's $784 million ($0.67).
Analysts had been expecting revenue of $3.23 billion and EPS of $0.53.
The company provided forward guidance for its current Q4. Revenue for the period is anticipated to be $2.86 billion to $3.10 billion, with EPS coming in at $0.42 to $0.50. It said those projections will be updated on December 9.
Texas Instruments also proffered selected estimates for the entirety of fiscal 2013. It believes it will post around $1.5 billion in research and development expenses, and $500 million in capital expenditures.
Following the announcement of the results, the company's stock slumped by 3.6%, or $1.49, to $40.99 in after-hours trading.
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