DALLAS (AP) _ Texas Instruments Inc. (TXN) on Tuesday reported third-quarter profit of $1.57 billion.
The Dallas-based company said it had net income of $1.58 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The chipmaker posted revenue of $4.26 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $4.3 billion.
For the current quarter ending in December, Texas Instruments said it expects revenue in the range of $3.6 billion to $3.9 billion. Analysts surveyed by Zacks had expected revenue of $4.01 billion.
Texas Instruments shares have decreased 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. In the final minutes of trading on Tuesday, shares hit $100.05, a rise of 4 percent in the last 12 months.
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