Texas Instruments Forecast Meets Estimates Amid Slowdown
- Weakness in mobile sector will continue in current quarter
- CFO March says other parts of business remain stable
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Texas Instruments Inc., the biggest maker of analog semiconductors, predicted sales and profit in the current period that were in line with analysts’ estimates, noting demand in most sectors is stable, even as the mobile phones sector declines and other chip companies grapple with a worldwide drop in electronics spending.
First-quarter net income will be 57 cents to 67 cents a share on sales of $2.85 billion to $3.09 billion, Texas Instruments said Wednesday in a statement. That compared with analysts’ average estimates for profit of 64 cents a share on revenue of $3.1 billion, according to data compiled by Bloomberg.