Texas Instruments' Forecast Stokes Optimism for a Chip Revival
- Company said demand was down across the board, apart from 5G
- TI’s communications revenue surged 30 percent in first quarter
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Texas Instruments Inc. executives cautioned that a rebound in customer demand for its chips may take time to materialize, disappointing investors who had been encouraged by the company’s upbeat second-quarter forecast.
Earnings in the current period will be $1.12 to $1.32 a share on revenue of $3.46 billion to $3.74 billion, the Dallas-based company said Tuesday in a statement. On average, analysts predicted profit of $1.24 a share and sales of $3.66 billion, according to data compiled by Bloomberg. First-quarter sales declined, but the results mostly beat Wall Street projections.