Texas Instruments earnings (NASDAQ:TXN) were released late in the day on Wednesday and it helped to propel TXN stock upwards more than 1% after hours thanks to the company’s impressive quarterly results.
The Dallas-based company said that for its fourth quarter of its fiscal 2018, it amassed net income of $1.24 billion, which tallied up to roughly $1.27 per share. In the year-ago quarter, the company had brought in net income of $344 million, or 34 cents per share.
Analysts were calling for Texas Instruments to bring in adjusted earnings of $1.23 per share, according to data compiled from analysts polled by FactSet. The company’s revenue was down year-over-year as it was now at $3.72 billion from the $3.75 billion it amassed during its fourth quarter of its fiscal 2017.
The Wall Street consensus estimate was projecting the technology company to bring in revenue of $3.74 billion, according to data compiled by FactSet. For its first quarter of the current fiscal year, Texas Instruments foresees its earnings to be in the range of $1.03 to $1.21 per share, while analysts see this figure as being roughly $1.20 per share.
The company is also calling for revenue to be in the range of $3.34 billion to $3.62 billion, which has a midpoint guidance below the $3.6 billion that Wall Street is forecasting.
TXN stock is surging roughly 1.3% after the bell following the company’s strong quarterly earnings showing as it closes out its fiscal 2018. Shares had been declining slightly below 1.2% during regular trading hours on Wednesday as the company prepared itself to report for its fourth quarter.