Shares of Texas Instruments Inc. soared 7% in after-hours trade following the company’s stronger-than-expected quarter earnings and sales. The company reported net income of $798 million, or 76 cents a share, compared with $826 million, or 76 cents, in the year-earlier period. Analysts had been forecasting adjusted earnings per share of 71 cents. Revenue for the three-month period fell 2% to $3.43 billion from $3.5 billion last year, but was above the consensus estimate of $3.3 billion, according to FactSet. For the fourth quarter, Texas Instruments is calling for earnings in the range of 64 cents and 74 cents on sales between $3.07 billion and $3.33 billion. That compares with current analyst expectations of 65 cents for earnings and $3.12 billion for revenue, according to FactSet. In a statement, Texas Instrument said overall demand was weak during the quarter, but that declines were partially offset by growth in its core analog and embedded processing business.
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