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Texas Instruments: 3Q Earnings Snapshot

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.

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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