Texas Instruments Issues Q4 Guidance Below Estimates; Shares Fall

(RTTNews) - Texas Instruments Incorporated (TXN) announced the company's fourth quarter outlook is for revenue in the range of $3.07 billion to $3.33 billion, and earnings per share between $0.91 and $1.09, which includes an estimated $5 million discrete tax benefit. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.28 on revenue of $3.59 billion. Analysts' estimates typically exclude special items.

For the third-quarter, earnings per share was $1.49, down 6 percent from prior year. Earnings per share included a 9 cent benefit for items that were not in the company's original guidance. On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $1.42, for the quarter.

Third-quarter revenue declined 11 percent to $3.77 billion from the same quarter a year ago, as most markets weakened further. Analysts expected revenue of $3.82 billion, for the quarter. Analog revenue declined 8 percent and Embedded Processing declined 19 percent from the same quarter a year ago.

Shares of Texas Instruments were down more than 9% after hours.