Texas Instruments Inc. Reveals Decline In Q1 Profit, but beats estimates

(RTTNews) - Texas Instruments Inc. (TXN) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $1.11 billion, or $1.20 per share. This compares with $1.71 billion, or $1.85 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.4% to $3.66 billion from $4.38 billion last year.

Texas Instruments Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.11 Bln. vs. $1.71 Bln. last year. -EPS (Q1): $1.20 vs. $1.85 last year. -Revenue (Q1): $3.66 Bln vs. $4.38 Bln last year.

-Guidance: Next quarter EPS guidance: $1.05 - $1.25 Next quarter revenue guidance: $3.65 - $3.95 Bln