Investing.com - Texas Instruments (NASDAQ:TXN) reported fourth quarter earnings that beat analysts' expectations on Wednesday but revenue fell short of forecasts. At the same time, the chip maker guided lower for the first-quarter earnings. But investors were bidding shares slightly higher.
TI said it earned $1.26 a share on revenue of $3.72 billion. Analysts polled by Investing.com had anticipated EPS of $1.24 on revenue of $3.75 billion. That compared to EPS of $1.09 on revenue of $3.75 billion in the 2017 fourth quarter. The company had reported EPS of $1.58 on revenue of $4.26 billion in the third quarter.
The company expects first-quarter earnings of $1.01 to $1.21 a share, down from an estimate of $1.21. Revenue was projected at $3.34 billion to $3.62 billion for the period, compared with an estimate of $3.61 billion, according to Standard & Poor's Capital IQ.
Texas Instruments shares moved up 0.6% to trade at $96.10 in after-hours trading.
The company said its core analog chip business saw a 4% revenue gain to $2.64 billion with a 4% operating profit increase to $1.23 billion. Its embedding processing business suffered a 12% revenue decline to $791 million with operating profit falling 24% to $234 million.