Texas Instruments quarterly revenue beats estimates, shares up

April 23, 2019

(Reuters) – Chipmaker Texas Instruments reported better-than-expected first-quarter revenue on Tuesday, sending its shares up 5 percent after the bell.

Revenue at the company, often seen as a bellwether for a semiconductor industry facing signs of a global downturn, fell 5.1 percent to $3.59 billion.

Analysts were expecting the chipmaker to report revenue of $3.48 billion, according to IBES data from Refinitiv.

Its net income fell to $1.22 billion, or $1.26 per share, during the first three months of the year, from $1.37 billion or $1.35 a share a year earlier.

(Reporting by Sayanti Chakraborty and Shariq Khan in Bengaluru; Editing by Arun Koyyur)

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