Texas Instruments–Sigh–Slashes Q4 Outlook
Well, you knew this was coming. (Or you should have.)
Texas Instruments (TXN) this afternoon sharply reduced its Q4 outlook.
The chipmaker now sees Q4 revenue of $2.3 billion to $2.5 billion, down from previous guidance of $2.83 billion to $3.07 billion. The company sees profits of 10-16 cents a share, down from 30-36 cents. The Street consensus had been $2.91 billion and 31 cents. While expectations of reduced guidance were widespread, I’m not sure that anyone thought it would be quite this bad.
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