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DALLAS (AP) - Texas Instruments Inc. said Monday that fourth-quarter profit rose 34 percent on strong sales of chips for mobile phones and electronic devices, but the company gave a cautious outlook for the first three months of this year. Its shares tumbled more than 2 percent in after-hours trading.
Texas Instruments, the largest maker of chips for mobile phones, said it earned $655 million, or 40 cents per share, up from $490 million, or 28 cents per share, a year earlier.
The results included $17 million or 3 cents per share for stock-based compensation, which analysts typically exclude from their forecasts. Analysts were expecting TI to earn 42 cents per share in the October-December period, according to a Thomson Financial survey.
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