DALLAS (AP) _ Texas Instruments Inc. (TXN) on Tuesday reported third-quarter profit of $1.42 billion.
The Dallas-based company said it had net income of $1.49 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The chipmaker posted revenue of $3.77 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $3.81 billion.
For the current quarter ending in December, Texas Instruments said it expects revenue in the range of $3.07 billion to $3.33 billion. Analysts surveyed by Zacks had expected revenue of $3.85 billion.
Texas Instruments shares have risen 36% since the beginning of the year, while the Standard & Poor's 500 index has increased 20%. In the final minutes of trading on Tuesday, shares hit $128.57, a climb of 29% in the last 12 months.