Texas Instruments narrows 3rd-quarter outlook

Texas Instruments narrows 3Q outlook, says quarter is on track with its expectations

Associated Press

DALLAS (AP) -- Texas Instruments Inc. narrowed its third-quarter outlook on Tuesday and said that the quarter is "generally tracking" with its expectations and that orders have been "solid" this quarter.

The chipmaker said that it now expects to earn between 51 cents per share and 55 cents per share in the quarter ending Sept. 30. It previously forecast earnings between 49 cents per share and 57 cents per share. Analysts, on average, expect third-quarter earnings of 53 cents per share, according to FactSet.

Revenue is now expected to be in the range of $3.15 billion and $3.29 billion in the third quarter. The company's previous forecast was for between $3.09 billion and $3.35 billion. Analysts expect revenue of $3.23 billion, according to FactSet.

Shares of the Dallas-based company slipped 31 cents, or less than 1 percent, to $40 in after-hours trading Tuesday. They rose 1.4 percent to close at $40.31.

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