Texas Instruments 3Q profit drops, outlook weak

Oct 21, 2013

Chipmaker Texas Instruments Inc. said Monday that its net income fell 20 percent in the third quarter. Its outlook for the current period was worse than analysts expected, and shares slipped.

TI expects earnings per of 42 cents to 50 cents in the last three months of the year, below the 51 cents that polled by FactSet predicted. It expects revenue of $2.86 billion to $3.1 billion, also below the $3.11 billion analysts forecast.

Shares dipped $1.19, or 2.9 percent, to $39 in after-hours trading Monday. The stock is up 33 percent this year, closing Monday at $40.99.

For the three months to Sept. 30, came to $629 million, or 56 cents per share, from $784 million, or 67 cents per share, in the same period a year ago. That beat analysts' estimate of 53 cents per share.

Revenue fell 4 percent to $3.24 billion. Analysts expected a deeper drop, to $3.23 billion.

TI's revenue is being hurt by declines in its legacy wireless business, which shrank to less than 2 percent of in the third quarter.

Explore further: EBay CEO cites 'uncertainty' for weak 4Q outlook

not rated yet
add to favorites email to friend print save as pdf

Related Stories

EBay CEO cites 'uncertainty' for weak 4Q outlook

Oct 17, 2013

EBay said the growth rate of e-commerce in the United States is slowing as it delivered a weaker than expected profit and revenue outlook for the current quarter through December. The company's third-quarter earnings edged ...

CBS 2Q beats Street as dispute goes on

Jul 31, 2013

CBS says net income rose 11 percent in the latest quarter, beating the expectations of analysts even as a dispute with one of its key TV distributors continues.

Generic competition cuts Merck's Q1 sales, profit

May 01, 2013

Drugmaker Merck & Co. is reporting lower first-quarter results and cutting its 2013 profit forecast by 15 cents a share. It also is announcing a huge share buyback, up to $15 billion worth of its stock.

Time Warner 2Q net income jumps 87 pct

Aug 07, 2013

Time Warner, owner of HBO, CNN, and Warner Bros., says its second-quarter net income jumped 87 percent, boosted by better results at its film and TV businesses.

Amazon.com posts lower 4Q net income

Jan 29, 2013

Amazon.com says its fourth-quarter net income fell 45 percent, as higher revenue failed to keep pace with increased spending on order fulfillment and digital content.

Recommended for you

Venture investments jump to $9.5B in 1Q

1 hour ago

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.

Weibo IPO below expectations, raises $285.6 mn

Apr 17, 2014

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

Apr 17, 2014

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

User comments : 0

More news stories

Venture investments jump to $9.5B in 1Q

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.

Hackathon team's GoogolPlex gives Siri extra powers

(Phys.org) —Four freshmen at the University of Pennsylvania have taken Apple's personal assistant Siri to behave as a graduate-level executive assistant which, when asked, is capable of adjusting the temperature ...

White House updating online privacy policy

A new Obama administration privacy policy out Friday explains how the government will gather the user data of online visitors to WhiteHouse.gov, mobile apps and social media sites. It also clarifies that ...

Scientists tether lionfish to Cayman reefs

Research done by U.S. scientists in the Cayman Islands suggests that native predators can be trained to gobble up invasive lionfish that colonize regional reefs and voraciously prey on juvenile marine creatures.

Leeches help save woman's ear after pit bull mauling

(HealthDay)—A pit bull attack in July 2013 left a 19-year-old woman with her left ear ripped from her head, leaving an open wound. After preserving the ear, the surgical team started with a reconnection ...