Texas Instruments Stock Slides as Earnings Forecast Underwhelms

Texas Instruments (TXN) reported fourth-quarter profits that topped analysts’ estimates, but its earnings outlook fell short of expectations, sending shares lower after the bell Thursday.

The analog chipmaker posted fourth-quarter revenue of $4.01 billion, down 2% year-over-year but above the analyst consensus compiled by Visible Alpha. Its net income of $1.21 billion, or $1.30 per share, fell from $1.37 billion, or $1.49 per share, a year earlier and also topped projections.

However, the company said it anticipates first-quarter earnings per share of between 94 cents and $1.16, below the $1.17 analysts were looking for.

Shares of Texas Instruments fell close to 4% in extended trading Thursday following the release. They were up about 20% over the past year through Thursday’s close.