Category: Economy / October 21, 2013 7:09 PM EDT
Texas Instruments Incorporated (NASDAQ: TXN) reported fiscal third-quarter earnings on Monday that beat Wall Street forecasts, but the company’s outlook missed expectations, sending shares lower in extended-hours trading. The chip maker issued quarterly earnings of 56 cents a share on revenue of $3.24 billion, compared with a profit of 67 cents a share on revenue of $3.39 billion in the year-ago period.
Analysts had expected Texas Instruments to report quarterly EPS of 53 cents on revenue of $3.23 billion, according to Reuters.
In addition, Texas Instruments expects fourth-quarter profit to come in between 42 cents to 50 cents, below Wall Street estimates.
On Monday, shares of Texas Instruments fell as much as 3.1 percent to $39.73 in after-hours trading following the announcement.
Also after the bell, Netflix, Inc. (NASDAQ: NFLX), Discover Financial Services (NYSE: DFS), VMware, Inc. (NYSE: VMW), Illumina, Inc. (NASDAQ: ILMN) and others reported quarterly results.
Video Credit: Reuters