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Texas Instruments Q3 sales rise 22% on ‘strong’ demand for electronics

Economy, Finance

Texas Instruments Inc. beat Wall Street expectations for its third-quarter profit, and quarterly sales were largely in line with forecasts, but the stock fell more than 4% late Tuesday. Texas Instruments said it earned $1.95 billion, or $2.07 a share, in the quarter, compared with $1.3 billion, or $1.45 a share, in the year-ago period. Revenue rose 22% to $4.64 billion thanks to “strong demand in industrial, automotive and personal electronics,” the company said. Analysts polled by FactSet expected EPS of $2.05 a share on sales of $4.66 billion. Texas Instruments guided for fourth-quarter sales in a range between $4.22 billion and $4.58 billion, and EPS between $1.83 and $2.07. The stock ended the regular trading day down 1.6%.

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