Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government
- Consolidating Mission-critical Systems
- Constituent Servicing
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Eliminating the Pitfalls: Steps to Virtualization in Government
- Federal Executive Forum
- Federal Tech Talk
- Government Cloud Brokerage: Who, What, When, Where, Why?
- Government Mobility
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mobile Device Management
- The Modern Federal Threat Landscape
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- Satellite Communications: Acquiring SATCOM in Tight Times
- Transformative Technology: Desktop Virtualization in Government
- Understanding the Intersection of Customer Service and Security in the Cloud
Shows & Panels
Texas Instruments 3Q profit drops, outlook weak
Tuesday - 10/22/2013, 11:00am EDT
DALLAS (AP) -- Chipmaker Texas Instruments Inc. said Monday that its net income fell 20 percent in the third quarter. Its outlook for the current period was worse than analysts expected, and shares slipped.
TI expects earnings per share of 42 cents to 50 cents in the last three months of the year, below the 51 cents that analysts polled by FactSet predicted. It expects revenue of $2.86 billion to $3.1 billion, also below the $3.11 billion analysts forecast.
Shares dipped $1.19, or 2.9 percent, to $39. in after-hours trading Monday. The stock is up 33 percent this year, closing Monday at $40.99.
For the three months to Sept. 30, net income came to $629 million, or 56 cents per share, from $784 million, or 67 cents per share, in the same period a year ago. That beat analysts' estimate of 53 cents per share.
Revenue fell 4 percent to $3.24 billion. Analysts expected a deeper drop, to $3.23 billion.
TI's revenue is being hurt by declines in its legacy wireless business, which shrank to less than 2 percent of revenue in the third quarter.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.