Investing.com - Texas Instruments (NASDAQ:TXN) on Wednesday reported better-than-expected quarterly results as the backdrop in its core semiconductor markets showed signs of stabilizing.
TI announced earnings per share of $1.11 on revenue of $3.35 billion. Analysts polled by Investing.com expected EPS of $1.02 on revenue of $3.26 billion. That was in comparison with EPS of $1.27 on revenue of $3.72 billion in the same quarter a year earlier.
Revenue decreased 10% from the same quarter a year ago, but the company said "most markets showed signs of stabilizing."
Analog revenue, which makes up the bulk of overall revenue, declined 5%, while embedded processing slipped 20%.
Looking ahead to the first quarter of 2020, Texas Instruments (NASDAQ:TXN) said it expected to report earnings per share in the range of $0.96 to $1.14, compared with the consensus of $1.03. and revenue in the range of $3.12 billion to 3.38 billion, compared with the consensus of $3.2 billion.
Texas Instruments shares lost 1% in after-hours trading.
Texas Instruments (NASDAQ:TXN) stock is up 3.96% since the start of the year and is trading at $133.37, still down 1.72% from its 52-week high of $135.70 set on Jan. 22.
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