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Texas Instruments profit misses consensus by 16.5% in Q2

Texas Instruments Inc. said its second-quarter normalized net income came to 59 cents per share, compared with the S&P Capital IQ consensus estimate of 70 cents per share.

EPS rose 6.9% year over year from 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $617.5 million, a gain from $596.9 million in the year-earlier period.

The normalized profit margin climbed to 19.1% from 18.1% in the year-earlier period.

Total revenue declined year over year to $3.23 billion from $3.29 billion, and total operating expenses fell from the prior-year period to $2.22 billion from $2.32 billion.

Reported net income increased on an annual basis to $683.1 million, or 65 cents per share, from $673.3 million, or 62 cents per share.