logo
Plus   Neg
Share
Email

Texas Instruments Issues Q4 Guidance Below Estimates; Shares Fall

Texas Instruments Incorporated (TXN) announced the company's fourth quarter outlook is for revenue in the range of $3.07 billion to $3.33 billion, and earnings per share between $0.91 and $1.09, which includes an estimated $5 million discrete tax benefit. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.28 on revenue of $3.59 billion. Analysts' estimates typically exclude special items.

For the third-quarter, earnings per share was $1.49, down 6 percent from prior year. Earnings per share included a 9 cent benefit for items that were not in the company's original guidance. On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $1.42, for the quarter.

Third-quarter revenue declined 11 percent to $3.77 billion from the same quarter a year ago, as most markets weakened further. Analysts expected revenue of $3.82 billion, for the quarter. Analog revenue declined 8 percent and Embedded Processing declined 19 percent from the same quarter a year ago.

Shares of Texas Instruments were down more than 9% after hours.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
Follow RTT