Texas Instruments narrows profit and sales outlook
DALLAS—Chipmaker Texas Instruments Inc. on Monday narrowed its profit and revenue forecasts for the second quarter. The company's new outlook remains squarely in the range of analysts' estimates.
Texas Instruments expects a profit of 32 to 36 cents per share and revenue of $3.28 billion to $3.42 billion in the quarter ending June 30. In April the company forecast income of 30 to 38 cents per share and $3.22 billion to $3.48 billion in revenue.
Analysts forecast Texas Instruments will report a profit of 34 cents per share and $3.36 billion in revenue, according to FactSet.
Shares of Texas Instruments fell 87 cents, or 3.1 percent, to close at $27.65 amid a broad market decline.