Texas Instruments Inc. (NYSE: TXN) just reported its quarterly earnings. On a non-GAAP basis, the chip giant’s earnings were $0.42 EPS and revenues were down 15% at $2.88 billion. Thomson Reuters estimates were $0.39 EPS and $2.82 billion in revenues. Orders were down 4% to $3.11 billion, but that is actually up 11% sequentially.
For next quarter’s report, the company expects earnings of $0.42 to $0.50 EPS and revenues of $2.78 billion to $3.02 billion. Those estimates are $0.40 EPS and $2.78 billion in revenues. One wild card for this coming December-end quarter was the fallout and charges from the Ford recall last week. The company only used $251 million in buybacks, which equaled 10.5 million shares during the quarter. The company also ended with $2.83 billion in cash and equivalents.
T-I closed up over 3% at $23.52 in today’s regular session and the after-hours reaction has shares trading down marginally at $23.46. Its 52-week trading range is $13.38 to $25.35.
JON C. OGG
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