Texas Instruments Inc. Earnings Drop In Q1

(RTTNews) - Texas Instruments Inc. (TXN) announced a profit for first quarter that decreased from the same period last year.

The company's bottom line totaled $1.22 billion, or $1.26 per share. This compares with $1.37 billion, or $1.35 per share, in last year's first quarter.

Analysts had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.3% to $3.59 billion from $3.79 billion last year.

Texas Instruments Inc. earnings at a glance:

-Earnings (Q1): $1.22 Bln. vs. $1.37 Bln. last year. -EPS (Q1): $1.26 vs. $1.35 last year. -Analysts Estimate: $1.13 -Revenue (Q1): $3.59 Bln vs. $3.79 Bln last year.