Texas Instruments narrows 1Q forecast
DALLAS (AP) — Texas Instruments Inc. on Thursday narrowed its fiscal first-quarter outlook.
The company now expects to earn 28 to 32 cents per share for the period, versus a prior forecast of 24 to 32 cents per share. It includes 6 cents per share in acquisition and restructuring charges and a tax benefit of 6 cents per share. Analysts polled by FactSet expected the company to earn 29 cents per share.
Texas Instruments also expects revenue of $2.80 billion to $2.91 billion. The previous forecast was $2.69 billion to $2.91 billion. Analysts estimated $2.80 billion.
Shares of the Dallas-based semiconductor company rose 6 cents to close at $35.20.