DALLAS (AP) _ Texas Instruments Inc. (TXN) on Wednesday reported fourth-quarter net income of $1.07 billion.

The Dallas-based company said it had net income of $1.12 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.

The chipmaker posted revenue of $3.35 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $3.22 billion.

For the year, the company reported profit of $5.02 billion, or $5.24 per share. Revenue was reported as $14.38 billion.

For the current quarter ending in April, Texas Instruments said it expects revenue in the range of $3.12 billion to $3.38 billion. Analysts surveyed by Zacks had expected revenue of $3.2 billion.

Texas Instruments shares have risen roughly 4% since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 3%. In the final minutes of trading on Wednesday, shares hit $133.34, a rise of 38% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXN at https://www.zacks.com/ap/TXN

Automated Insights, source Associated Press News