Texas Instruments’ Profit Falls 11 Percent on Weak Demand
Texas Instruments Inc.’s Tfourth-quarter profit fell 11 percent as the chip maker continued its move away from the mobile market amid a shifting global economy.
For the current quarter, the company expects per-share earnings of 24 cents to 32 cents, including six cents in acquisition and other charges and six cents in tax benefits. TI sees revenue of $2.69 billion to $2.91 billion, negatively impacted by a shift away from the smartphone and tablet market. Analysts polled by Thomson Reuters recently projected per-share earnings of 34 cents on revenue of $2.89 billion.