Texas Instruments Rises After Exceeding Estimates: Dallas Mover
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Texas Instruments Inc. rose almost 5 percent in extended trading after fourth-quarter sales and profit declined less than analysts had predicted, signaling that the market for electronic components has bottomed out.
Net income fell 68 percent to $298 million, or 25 cents a share, from $942 million, or 78 cents, a year earlier, the Dallas-based company said yesterday in a statement. Sales dropped 3 percent to $3.42 billion. Analysts had predicted profit of 23 cents a share and revenue of $3.25 billion on average, according to data compiled by Bloomberg.