Texas Instruments Inc. (TXN) reported third quarter earnings that were up 15.8% sequentially and down 6.8% year over year, exceeding the Zacks Consensus estimate by 10 cents, or 17.5%. Although TI lowered earnings estimates, the addition of National limited negative estimate revisions. Therefore, overall estimates for the current quarter have remained unchanged while those for the following quarter and fiscal years 2011 and 2012 have gone up a bit. Results were better than the original guidance. However, while share prices jumped 4.04% during the day, in the hope of a strong quarter, they dropped 1.42% after-hours due to the weak guidance. Revenue TI reported revenue of $3.46 billion, which was up 0.2% sequentially, down 7.3% year over year and at the lower end of the originally guided range of$3.4 billion
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