DALLAS (AP) – Texas Instruments Inc. says its net income fell 20 percent in the third quarter.
The Dallas-based chipmaker on Monday said it expects earnings per share of 42 cents to 50 cents in the last three months of the year, below the 51 cents that analysts polled by FactSet predicted. It expects revenue of $2.86 billion to $3.1 billion, also below the $3.11 billion analysts forecast.
For the three months to Sept. 30, net income came to $629 million, or 56 cents per share, from $784 million, or 67 cents per share, in the same period a year ago.
Revenue fell 4 percent to $3.24 billion. Analysts expected a deeper drop, to $3.23 billion.
TI’s revenue has been hurt by declines in its legacy wireless business.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Han Solo “Star Wars” Spinoff Film Finally Has A Title
- WNBA’s San Antonio Stars Moving To Las Vegas
- Top Fantasy Football Waiver Wire Pickups For Week 7
- Opioid Deaths Reportedly Down In State With Legal Marijuana
- U.S. Takes On Japan In Highly-Anticipated Giant Robot Battle
- Sasquatch Genome Project Reveals Bigfoot Photos
- Tricks To Using The New iPhone Software
- Enter The ‘Show Your Spirit’ Sweepstakes
- Mexican Monster Truck Wreck Kills 8, Hurts Dozens
- Nolan, Daniels Involved In Heated Confrontation
- PHOTOS: Your Pet Pictures