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Texas Instruments Q2 Earnings Drop 34%, but Still Beat View; Q3 Forecast Tepid (TXN)

Microchip maker Texas Instruments Inc ( TXN ) on Monday posted a massive drop in second quarter earnings, hurt by higher costs and lower revenue.

The Dallas-based company reported second quarter net income of $446 million, or 38 cents per share, compared with $672 million, or 56 cents per share, in the year-ago period.

Revenue fell 3% from last year to $3.34 billion.

On average, Wall Street analysts expected a smaller profit of 34 cents per share, on slightly higher revenue of $3.35 billion.

Looking ahead, T.I. forecast third quarter earnings 34 to 42 cents per share, on $3.21 billion to $3.47 billion in revenue.

Texas Instruments shares fell 53 cents, or -2%, in aftermarket trading Monday.

The Bottom Line

Shares of Texas Instruments ( TXN ) have a 2.54% dividend yield, based on today's closing stock price of $26.82. The stock has technical support in the $22-$23 price area. If the shares can firm up, we see overhead resistance around the $28-$29 price levels.

Texas Instruments Inc ( TXN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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