TI Q3 better than expected (TXN) By Lisa Sanders
Texas Instruments, which makes most of the chips used in wireless phones, reported a third-quarter loss vs. a profit a year ago as economic uncertainty continued to pressure demand for the company's semiconductors. Dallas-based TI (TXN) , which had maintained revenue and loss estimates since the second quarter, posted revenue above its target and a loss 1 cent better than expectations. On the bottom line, TI reported a loss of $57 million, or 3 cents a share, vs. a profit of $589 million, or 33 cents a share, in the year-ago period. Analysts polled by Thomson Financial/First Call had expected TI to lose 4 cents a share on average. TI had predicted a revenue decline of 10 to 15 percent sequentially, and the chipmaker reported sales of $1.9 billion, a 9 percent decrease. Shares slumped $1.58 to close at $29.91 ahead of the announcement. |
