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Texas Instruments profit holds mostly steady YOY in Q3

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Texas Instruments profit holds mostly steady YOY in Q3

Texas Instruments Inc. said its normalized net income for the third quarter amounted to 69 cents per share, compared with the S&P Capital IQ consensus estimate of 72 cents per share.

EPS increased year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $717.5 million, compared with $715.0 million in the year-earlier period.

The normalized profit margin rose to 20.9% from 20.4% in the year-earlier period.

Total revenue fell year over year to $3.43 billion from $3.50 billion, and total operating expenses declined on an annual basis to $2.27 billion from $2.34 billion.

Reported net income came to $786.6 million, or 76 cents per share, compared with $816.2 million, or 76 cents per share, in the year-earlier period.