Texas Instruments Inc. said its normalized net income for the fourth quarter came to 79 cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.
EPS increased 19.8% year over year from 66 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $804.4 million, a gain of 18.7% from $677.5 million in the prior-year period.
The normalized profit margin climbed to 23.6% from 21.2% in the year-earlier period.
Total revenue rose 7.1% year over year to $3.41 billion from $3.19 billion, and total operating expenses totaled $2.12 billion, compared with $2.10 billion in the prior-year period.
Reported net income grew 41.4% from the prior-year period to $1.17 billion, or $1.14 per share, from $824.0 million, or 80 cents per share.
For the year, the company's normalized net income totaled $2.89 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.39.
EPS rose from $2.49 in the prior year.
Normalized net income was $2.95 billion, an increase from $2.60 billion in the prior year.
Full-year total revenue rose year over year to $13.37 billion from $13.00 billion, and total operating expenses fell on an annual basis to $8.59 billion from $8.79 billion.
The company said reported net income increased year over year to $3.55 billion, or $3.48 per share, in the full year, from $2.94 billion, or $2.82 per share.
