Texas Instruments Earnings Show Some Improvements, despite Weak Industrial Sales

Dow Jones10-23

Texas Instruments Inc.'s earnings reflected continued pressures in industrial semiconductors, though overall revenue improved on a sequential basis.

The chip company posted $4.15 billion in revenue for its third quarter, down 8% from a year before but up 9% sequentially. Analysts tracked by FactSet were modeling $4.12 billion.

Texas Instruments $(TXN)$, seen as a bellwether for the semiconductor industry in part because of its early reporting date, saw sequential declines in its industrial business but sequential growth in its other end markets. Some of the company's other end markets include automotive, personal electronics and communications equipments.

The company's fourth-quarter forecast calls for $3.70 billion to $4.00 billion in revenue, below the FactSet consensus of $4.06 billion.

Texas Instruments' fourth-quarter forecast for earnings per share calls for $1.07 to $1.29, while analysts had been modeling $1.34.

Texas Instruments shares rise 4% to $201.8 after the bell.

In the latest quarter, Texas Instruments notched net income of $1.36 billion, or $1.47 a share, down from $1.71 billion, or $1.85 a share, in the year-earlier period. The company said the latest figured included a 3-cent-a-share impact not initially contemplated in guidance. Analysts' expectations were for $1.38 on average.

The company had free cash flow of $416 million in the third quarter, contributing to $1.47 billion over a trailing 12-month basis. Texas Instruments' capital expenditures amounted to $1.32 billion on a quarterly basis and $4.78 billion over a trailing 12-month span.

The stock is up 14% so far this year.

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Analysts tracked by FactSet were modeling $4.12 billion.</p><p>Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>, seen as a bellwether for the semiconductor industry in part because of its early reporting date, saw sequential declines in its industrial business but sequential growth in its other end markets. Some of the company&#39;s other end markets include automotive, personal electronics and communications equipments.</p><p>The company&#39;s fourth-quarter forecast calls for $3.70 billion to $4.00 billion in revenue, below the FactSet consensus of $4.06 billion.</p><p>Texas Instruments&#39; fourth-quarter forecast for earnings per share calls for $1.07 to $1.29, while analysts had been modeling $1.34.</p><p>Texas Instruments shares rise 4% to $201.8 after the bell.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/431519b3bd926cb19b9fa767d3f56a08\" tg-width=\"862\" tg-height=\"839\"/></p><p>In the latest quarter, Texas Instruments notched net income of $1.36 billion, or $1.47 a share, down from $1.71 billion, or $1.85 a share, in the year-earlier period. The company said the latest figured included a 3-cent-a-share impact not initially contemplated in guidance. 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