Texas Instruments Forecast Signals That Slump Is Persisting
- Shares slide in late trading following earnings report
- Demand for industrial components has weakened further
Texas Instruments has the broadest list of customers in the semiconductor industry, making its forecasts a bellwether for demand across the economy.
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Texas Instruments Inc. gave a disappointing revenue forecast for the current period, indicating that demand remains sluggish for a broad range of electronic components, including industrial equipment.
Revenue in the fourth quarter will be $3.93 billion to $4.27 billion, the company said Tuesday. That compares with an average analyst estimate of $4.49 billion. Profit will be $1.35 to $1.57 a share, versus a prediction of $1.76.