Texas Instruments Sales Outlook Defies Trade Concerns
- Company reports quarterly profit, revenue that top estimates
- Some shipments to Huawei resumed after compliance review
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Texas Instruments Inc. gave stronger-than-predicted sales and profit forecasts for the current quarter, indicating demand for chips may be starting to improve.
Third-quarter earnings will be $1.31 a share to $1.53 a share on revenue of $3.65 billion to $3.95 billion, the Dallas-based company said Tuesday in a statement. On average, analysts predicted profit of $1.37 a share and sales of $3.84 billion, according to data compiled by Bloomberg. At the high end, that represents a revenue decline of 7.3% from a year earlier.