{"id":5595,"date":"2023-10-26T10:48:39","date_gmt":"2023-10-26T10:48:39","guid":{"rendered":"https:\/\/infundpros.com\/investment\/texas-instruments-stock-slides-after-3q-revenue-miss-weak-guidance\/"},"modified":"2023-10-26T10:48:40","modified_gmt":"2023-10-26T10:48:40","slug":"texas-instruments-stock-slides-after-3q-revenue-miss-weak-guidance","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=5595","title":{"rendered":"Texas Instruments\u2019 stock slides after 3Q revenue miss, weak guidance"},"content":{"rendered":"
\n

The initial version of this article featured an incorrect number for Texas Instruments\u2019 analog revenue. This has now been corrected.<\/em><\/p>\n

Texas Instruments Inc. shares fell in extended trade Tuesday after the chip maker reported third-quarter revenue below analysts\u2019 expectations and delivered weaker-than-expected guidance.<\/p>\n

\n

The chipmaker reported net income of\u00a0$1.709 billion, or $1.85 a share, compared with net income of $2.295 billion, or $2.47 a share, in the same period last year. Earnings per share included a\u00a05-cent\u00a0benefit for items that were not in the company\u2019s original guidance, Texas Instruments
\n TXN,
\n -3.49%<\/bg-quote>
\n said in a statement. Analysts surveyed by FactSet were looking for earnings of $1.82 a share.<\/p>\n

Third-quarter revenue was $4.532 billion, down from $5.241 billion in the same period last year. Analysts surveyed by FactSet were looking for sales of $4.579 billion. Analog revenue was $3.353 billion, down from $3.993 billion in the prior year\u2019s quarter, and embedded processing revenue was $890 million, up from $821 million in the same period last year. Analysts surveyed by FactSet were looking for analog revenue of $3.296 billion and embedded processing revenue of $887 million.<\/p>\n

Related:<\/strong> Texas Instruments\u2019 stock slips as continued capacity buildout amid growing inventory weighs on outlook<\/p>\n

\u201cRevenue was flat sequentially and decreased 14% from the same quarter a year ago,\u201d Texas Instruments\u2019 CEO Haviv Ilan said in a statement. \u201cDuring the quarter, automotive growth continued and industrial weakness broadened.\u201d<\/p>\n

During a conference call to discuss results, Dave Paul, Texas Instruments\u2019 vice president and head of investor relations, said that the industrial market was down mid-single digits sequentially, with weakness broadening across nearly all sectors. \u201cThe automotive market continued to grow, and was up mid-single digits,\u201d he added. \u201cPersonal electronics was up about 20% off a low base \u2026 communications equipment was down upper teens and, finally, enterprise systems grew upper single digits.\u201d<\/p>\n

For the fourth quarter, Texas Instruments said it expects revenue between $3.93 billion\u00a0and\u00a0$4.27 billion\u00a0and earnings between\u00a0$1.35\u00a0and\u00a0$1.57 a share. Analysts surveyed by FactSet said they are looking for revenue of $4.502 billion and adjusted earnings of $1.79 a share.<\/p>\n

Read:<\/strong> Dividend stocks are dirt cheap. It may be time to back up the truck. <\/p>\n

The company\u2019s third-quarter inventory was $3.908 billion, up from $2.404 billion in the prior year\u2019s quarter, and a sequential increase of $179 million.<\/p>\n

Texas Instruments\u2019 stock fell 4.4% in extended trades.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The initial version of this article featured an incorrect number for Texas Instruments\u2019 analog revenue. This has now been corrected. Texas Instruments…<\/p>\n","protected":false},"author":1,"featured_media":5596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-5595","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"\nTexas Instruments\u2019 stock slides after 3Q revenue miss, weak guidance | inFundPros<\/title>\n<meta name=\"description\" content=\"The initial version of this article featured an incorrect number for Texas Instruments\u2019 analog revenue. This has now been corrected. 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