Economics
Texas Instruments Forecasts Earnings MIssing Estimates
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Texas Instruments Inc., the largest maker of analog chips, forecast fourth-quarter profit that fell short of most analysts’ estimates, as chip resellers cut inventory on concern that economic growth will remain weak.
Net income will be 23 cents to 31 cents a share on revenue of $2.83 billion to $3.07 billion, the Dallas-based company said yesterday in a statement. The forecast includes a 6-cent restructuring and acquisition charge. Analysts on average had predicted earnings of 37 cents on sales of $3.22 billion in the current period, according to data compiled by Bloomberg.