Texas Instruments Incorporated TXN shares are falling after the company reported lower-than-expected third-quarter sales results and issued fourth-quarter revenue guidance below estimates.
What To Know: Texas Instruments reported quarterly earnings of $1.85 per share which beat the analyst consensus estimate of $1.81, a 25.1% decrease over earnings of $2.47 per share from the same period last year. The company reported quarterly sales of $4.53 billion which missed the analyst consensus estimate of $4.57 billion, a 13.53% decrease over sales of $5.24 billion the same period last year.
The company issued fourth-quarter revenue guidance in a range between $3.93 billion and $4.27 billion, versus the $4.49 billion estimate. Earnings per share is estimated to be between $1.35 and $1.57.
President and CEO, Haviv Ilan, noted, "Our cash flow from operations of $6.5 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300-mm production. Free cash flow for the same period was $1.6 billion."
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TXN Price Action: Shares of TXN were down 4.51% at $140.28 in the after-hours session at the time of publication, according to Benzinga Pro.
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