Texas Instruments Slumps on Gloomy Outlook, Q3 Miss

This post was originally published on this site

© Reuters. Texas Instruments Earnings, Revenue Miss in Q3© Reuters. Texas Instruments Earnings, Revenue Miss in Q3

Investing.com – Texas Instruments (NASDAQ:) slumped on Tuesday in after-hours trading after missing third-quarter forecasts on both the top and bottom lines and delivering a sour outlook on chip demand, saying most markets had weakened further.

The company guided fourth-quarter earnings in the range of $0.91 to $1.09 per share, below consensus estimates of $1.30 from S&P Capital IQ, with revenue expected in the range of $3.07 billion to $3.33 billion, below the $3.6 billion expected.

The company reported earnings per share (EPS) of $1.40 on revenue of $3.77 billion. Analysts polled by Investing.com expected EPS of $1.42 on revenue of $3.82 billion. That compared to EPS of $1.58 on revenue of $4.26 billion in the same period a year earlier.

Revenue decreased 11% from the same quarter a year ago, led a fall in its analog segment during a period in which “most markets weakened further,” the company said.

Analog revenue, which makes up the bulk of overall revenue, declined 8%, while embedded processing slipped 19%.

Texas Instruments shares lost 10.58% to trade at $114.94 in after-hours trade following the report.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.