Texas Instruments second-quarter profit rises 3.5 percent, tops forecast

MarketsAssociated Press

Texas Instruments Inc. (TXN) on Monday reported profit that climbed 3.5 percent in its second quarter, topping analysts' expectations.

The Dallas-based company said profit increased to $683 million, or 62 cents per share, from $660 million, or 58 cents per share, in the same quarter a year earlier. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of 59 cents.

Continue Reading Below

Revenue climbed 8 percent to $3.29 billion from $3.05 billion in the same quarter last year. Analysts expected $3.28 billion, according to Zacks.

Texas Instruments shares slipped 36 cents to $48.81 in extended trading Monday. They had ended regular trading up 35 cents to $49.17. The stock is up about 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.8 percent.