Texas Instruments Inc. on Monday reported fourth-quarter profit and revenue that matched Wall Street's expectations.
The Dallas-based chipmaker reported net income of $825 million, or 76 cents a share, for the quarter that ended Dec. 31. That was up from $511 million, or 46 cents a share, a year ago.
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Earnings, adjusted for pretax gains and non-recurring gains, were 69 cents per share in the latest quarter. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 69 cents per share.
Texas Instruments posted revenue of $3.27 billion in the period, which also met Street forecasts and was up from $3.03 billion a year ago.
For the year, the company reported profit of $2.82 billion, or $2.57 per share. Revenue rose to $13.05 billion.
For the current quarter ending in March, Texas Instruments said it expects revenue in the range of $3.07 billion to $3.33 billion. Analysts surveyed by Zacks had expected revenue of $3.2 billion.
Texas Instruments shares added 11 cents to $55.16 in aftermarket trading following the release of the earnings report. Through the close of regular-session trading Monday, they were up 3 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXN at http://www.zacks.com/ap/TXN
Keywords: Texas Instruments, Earnings Report