Texas Instruments more bearish despite strong numbers
Texas Instruments (TI) is more pessimistic about the fourth quarter due to the gloomy economic outlook. Surprisingly strong figures for the past quarter did not change that.
At the end of the year, sales would be between 4.4 and 4.8 billion dollars and earnings between 1.83 and 2.11 dollars per share, the chip maker forecast on Tuesday. According to data provider Refinitiv, analysts had previously expected revenue of $4.93 billion and a surplus of $2.21. In the past few months, a decline in demand for both chips for electronic devices and industrial applications has already been observed, said TI boss Rich Templeton.
In the third quarter, the company increased its revenue by 13 percent to $5.24 billion and earned $2.45 per share. Experts had only predicted $ 5.14 billion or $ 2.39 per share here.
TI shares lost around five percent in after-hours trading.