DALLAS (AP) — DALLAS (AP) — Texas Instruments Inc. (TXN) on Tuesday reported first-quarter net income of $1.71 billion.
The Dallas-based company said it had net income of $1.85 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.
The chipmaker posted revenue of $4.38 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $4.36 billion.
For the current quarter ending in June, Texas Instruments said it expects revenue in the range of $4.17 billion to $4.53 billion. Analysts surveyed by Zacks had expected revenue of $4.82 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXN at https://www.zacks.com/ap/TXN
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