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Texas Instruments Beats Second-Quarter Sales, Earnings Goals

Business

Chipmaker Texas Instruments (TXN) late Wednesday beat Wall Street’s targets for the second quarter. But TXN stock fell in extended trading.

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The Dallas-based company earned $2.05 a share on sales of $4.58 billion in the June quarter. Analysts expected TI earnings of $1.83 a share on sales of $4.36 billion, according to FactSet. In the year-earlier period, TI earned $1.48 a share on sales of $3.24 billion.

In after-hours trading on the stock market today, TXN stock dropped 3.3%, near 187.90. During the regular session Wednesday, TXN stock rose 3.5% to 194.24.

Earnings details to follow.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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