Texas Instruments 3Q profit drops, outlook weak

October 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

Related Stories

EBay CEO cites 'uncertainty' for weak 4Q outlook

October 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

July 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 1, 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

August 7, 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

January 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

Volvo to supply Uber with self-driving cars (Update)

November 20, 2017

Swedish carmaker Volvo Cars said Monday it has signed an agreement to supply "tens of thousands" of self-driving cars to Uber, as the ride-sharing company battles a number of different controversies.

New method analyzes corn kernel characteristics

November 17, 2017

An ear of corn averages about 800 kernels. A traditional field method to estimate the number of kernels on the ear is to manually count the number of rows and multiply by the number of kernels in one length of the ear. With ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.