reported earnings that matched Wall Street's expectations for the third quarter.
The company reported income for the quarter of $591 million, or 33 cents a share, compared with $453 million, or 26 cents a share, in the year-ago quarter. According to a
First Call/Thomson Financial
survey, 22 analysts were expecting the company to earn 33 cents a share for the period.
Third-quarter revenue rose to $3.15 billion from $2.52 billion in the year-ago period. Semiconductor revenue rose to $2.72 billion from $2.10 billion last year.
The financial results reflect the completed acquisition of Burr-Brown and the inclusion of its results in the semiconductor segment.
Texas Instruments expects its semiconductor revenue to grow sequentially by a few percentage points in the fourth quarter. The company expects revenue to decline sequentially in educational productivity solutions and materials controls. As a result, the company expects total revenue in the fourth quarter to be about even with revenue in the third quarter.