Texas Instruments narrows its 2Q forecasts

Texas Instruments narrows its 2nd-quarter net income and revenue guidance

Associated Press

DALLAS (AP) -- Chipmaker Texas Instruments Inc. narrowed its second-quarter net income and revenue outlook on Monday.

The company said it now expects to earn between 39 and 43 cents per share on $2.99 billion to $3.11 billion in revenue for the quarter ending June 30. In April Texas Instruments forecast net income of 37 to 45 cents per share and $2.93 billion to $3.17 billion in revenue in the current quarter.

Analysts expect net income of 41 cents per share and $3.06 billion in revenue, according to FactSet.

Shares of Texas Instruments slipped 62 cents, or 1.7 percent, to $36 in aftermarket trading following the release of the updated outlook.

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