Texas Instruments Inc. Announces Decline In Q1 Profit

(RTTNews) - Texas Instruments Inc. (TXN) reported a profit for first quarter that dropped from last year.

The company's profit totaled $1.17 billion, or $1.24 per share. This compares with $1.22 billion, or $1.26 per share, in last year's first quarter.

Analysts had expected the company to earn $1.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.5% to $3.33 billion from $3.60 billion last year.

Texas Instruments Inc. earnings at a glance:

-Earnings (Q1): $1.17 Bln. vs. $1.22 Bln. last year. -EPS (Q1): $1.24 vs. $1.26 last year. -Analysts Estimate: $1.00 -Revenue (Q1): $3.33 Bln vs. $3.60 Bln last year.