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July 23, 2019, 4:13 p.m. EDT

Texas Instruments stock rallies on earnings beat

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By Wallace Witkowski

TXN

Texas Instruments Inc. /zigman2/quotes/202237907/composite TXN -0.37% shares rallied in the extended session Tuesday after the chip maker topped Wall Street estimates for the quarter. Texas Instruments shares surged 6.5% after hours, following a 1.6% rise to close the regular session at $120.07. The company reported second-quarter net income of $1.31 billion, or $1.36 a share, compared with $1.41 billion, or $1.40 a share, in the year-ago period. Texas Instruments said results included a 7-cents-a-share benefit that had not been included in the original guidance. Revenue declined to $3.67 billion from $4.02 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.22 a share on revenue of $3.6 billion. Texas Instruments expects third-quarter earnings of $1.31 to $1.53 a share on revenue of $3.65 billion to $3.95 billion, while analysts had forecast $1.38 a share on revenue of $3.84 billion.

/zigman2/quotes/202237907/composite
US : U.S.: Nasdaq
$ 128.83
-0.48 -0.37%
Volume: 2.68M
Sept. 19, 2019 4:00p
P/E Ratio
23.55
Dividend Yield
2.39%
Market Cap
$120.28 billion
Rev. per Employee
$528,105
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