DALLAS (AP) — DALLAS (AP) — Texas Instruments Inc. (TXN) on Tuesday reported fourth-quarter profit of $1.16 billion.
The Dallas-based company said it had profit of $1.27 per share.
The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The chipmaker posted revenue of $4.42 billion in the period, which also fell short of Street forecasts. Ten analysts surveyed by Zacks expected $4.44 billion.
For the year, the company reported profit of $5 billion, or $5.45 per share. Revenue was reported as $17.68 billion.
For the current quarter ending in March, Texas Instruments said it expects revenue in the range of $4.32 billion to $4.68 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXN at https://www.zacks.com/ap/TXN
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