Texas Instruments forecast first-quarter revenue and profit largely below Wall Street targets on Tuesday, as an economic downturn threatens to shackle demand from the chipmaker's so far resilient markets.
Texas Instruments Office is shown in San Diego, California, U.S., April 24, 2018. REUTERS/Mike Blakeforecast first-quarter revenue and profit largely below Wall Street targets on Tuesday, as an economic downturn threatens to shackle demand from the chipmaker's so far resilient markets.
On Tuesday, Texas said revenue in its industrial business fell 10% in the fourth quarter from the previous period, while it plunged 20% in its communications equipment and enterprise systems businesses. The company said it expects "weaker than seasonal decline" in demand during the current quarter as customers preferred to reduce their inventory pile.
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