Texas Instruments Beat Earnings. Why Its Stock Is Dropping.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The chip maker's shares were down despite beating earnings forecasts.

Texas Instruments earnings topped estimates but its stock was dropping in after-hours trading Tuesday after the chip maker provided a revenue forecast for the December quarter below expectations.

For the September quarter, the semiconductor company reported earnings per share of $1.85, compared with Wall Street’s consensus estimate of $1.82, according to FactSet. Revenue came in at $4.53 billion, which was below analysts’ expectations of $4.6 billion. Guidance was also weak. Texas Instruments gave a revenue forecast range for the current quarter of $3.93 billion to $4.27 billion—which was below consensus of $4.5 billion.

“During the quarter, automotive growth continued and industrial weakness broadened,” CEO Haviv Ilan said.The chip maker sells the basic building-block chips that go into products in nearly every sector of the economy from autos and industrials to consumer electronics. Texas Instruments stock is down 11% this year, compared with the 32% rise for the iShares Semiconductor ETF . The ETF tracks the performance of the ICE Semiconductor Index.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Texas Instruments earnings: What to expectThe chip maker reports its third-quarter results amid concerns of semiconductor headwinds
Source: MarketWatch - 🏆 3. / 97 Read more »

Visa's stock up 2% on earnings beat; card giant says consumers are 'resilient'‘Confident in our ability to deliver against a backdrop of geopolitical and economic uncertainty,’ Visa says
Source: MarketWatch - 🏆 3. / 97 Read more »

Alphabet Stock Falls Despite Earnings BeatThe Google parent reported revenue of $76.7 billion for its latest quarter, up 11% from a year ago.
Source: MarketWatch - 🏆 3. / 97 Read more »