Texas Instruments Inc. Q2 Profit Retreats

(RTTNews) - Texas Instruments Inc. (TXN) announced earnings for second quarter that dropped from the same period last year.

The company's bottom line came in at $1.31 billion, or $1.36 per share. This compares with $1.41 billion, or $1.40 per share, in last year's second quarter.

Analysts had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.7% to $3.67 billion from $4.02 billion last year.

Texas Instruments Inc. earnings at a glance:

-Earnings (Q2): $1.31 Bln. vs. $1.41 Bln. last year. -EPS (Q2): $1.36 vs. $1.40 last year. -Analysts Estimate: $1.22 -Revenue (Q2): $3.67 Bln vs. $4.02 Bln last year.