Texas Instruments delivers gloomy guidance after Q3 revenue misses; shares fall
Investing.com — Texas Instruments reported Tuesday third-quarter revenue and current-quarter guidance that fell short of Wall Street estimates as weaker industrial demand for chips broadened, weighing on performance.
Texas Instruments Incorporated (NASDAQ:TXN) shares fell 4% in after-hours trade following the report.
Texas Instruments reported adjusted EPS of $1.85 on revenue of $4.53B. Analysts polled by Investing.com anticipated EPS of $1.82 on revenue of $4.57B.
In industrial, its largest end market, demand weakness «broadened», the company said.
Analog revenue, which makes up the bulk of overall revenue, fell 16% year-on-year in the quarter, while embedded processing gained 8%.
Texas Instruments guided fourth-quarter revenue in the range of $3.93B to $4.27B, and EPS between $1.35 and $1.57. That was below estimates for EPS of $1.76 a share on revenue of $4.5B.
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