Texas Instruments Shares Rise On Dividend Hike, Strong Earnings

By Sue ChangMarketsMarketWatch Pulse

Shares of Texas Instruments Inc. rose in Wednesday's extended session after the chip maker raised its dividend and posted strong results. Texas Instruments boosted its quarterly dividend by 32% to 50 cents a share. The company also reported its third-quarter earnings rose to $968 million, or 94 cents a share, from $798 million, or 76 cents a share, a year ago. Revenue grew 7% to $3.68 billion. Analysts surveyed by FactSet had forecast earnings of 86 cents a share on revenue of $3.49 billion. In the fourth quarter, the company expects revenue in a range of $3.17 billion to $3.43 billion and earnings per share of 76 cents to 86 cents. Analysts are projecting revenue of $3.3 billion and EPS of 79 cents. Shares gained 0.3% after hours.

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