Texas Instruments Incorporated (NASDAQ: TXN) beat revenue and earnings estimates for the fourth quarter of 2019. Shares were down 0.66% in aftermarket hours on Wednesday.
Total revenues fell 10% to $3.35 billion versus the year-ago period but topped estimates of $3.21 billion.
Net income dropped 14% year-over-year to $1.07 billion while EPS fell 12% to $1.12. Adjusted EPS amounted to $1.11. Analysts had forecast EPS of $1.01.
During the quarter, the company saw revenue decreases across all its segments. Revenue in Analog fell 5% hurt by declines in Signal Chain, High Volume and Power. In Embedded Processing, revenue fell 20% mainly due to Processors. In the Other segment, revenue fell 24%.
For the first quarter of 2020, Texas Instruments expects revenue in the range of $3.12 billion to $3.38 billion, and EPS to be between $0.96 and $1.14, which includes an estimated $20 million discrete tax benefit.
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