Texas Instruments’ Sales Drop for the First Time Since 2020
- Chipmaker says customers are focused on reducing inventory
- Outlook doesn’t help hopes for early end to industrywide slump
A Texas Instruments Inc. plant in Plano, Texas.
Photographer: Jason Janik/Bloomberg
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Texas Instruments Inc., one of the world’s largest chipmakers, suffered its first sales decline since 2020 and gave a tepid forecast for the current quarter, hit by an industry slump.
Revenue in the first quarter will be $4.17 billion to $4.53 billion, the company said Tuesday, compared with an average of analysts’ estimates of $4.41 billion. Profit will be $1.64 to $1.90 a share, versus a prediction of $1.86.