Texas Instruments' profit dips 67 percent on tax expense

(Reuters) - Chipmaker Texas Instruments Inc's fourth-quarter profit slumped about 67 percent due to tax-related expenses resulting from new U.S. tax laws.

The Dallas-based company said on Tuesday its net income fell to $344 million or 34 cents per share in the quarter ended Dec. 31, from $1.05 billion or $1.02 per share, a year earlier.

Net revenue rose to $3.75 billion from $3.41 billion.

(Reporting by Munsif Vengattil in Bengaluru; editing by Sai Sachin Ravikumar)