TEXAS Instruments last night revealed forecasts for unexpectedly low fourth-quarter revenue, underscoring concerns about spotty demand for chips for cars, appliances, computers and industrial products and sending its shares lower.
The firm said revenue fell to $3.24bn in the third quarter from $3.39bn a year earlier. In the fourth quarter, revenue will range from $2.86bn to $3.1bn, the company estimated.
Analysts on average had expected revenue of $3.23bn for the third quarter and $3.12bn for the current, fourth quarter.
City A.M. Reporter