Texas Instrument reported a disappointing outlook for the fourth quarter as sales of its chips for high-end cell phones were worse than expected going into the holiday shopping season.

The world's biggest maker of chips for cell phones forecast fourth-quarter revenue at $3.46 billion to $3.75 billion, which was below average Wall Street estimates and also less than the third quarter's $3.76 billion.

Analysts on average had forecast revenue in the fourth quarter at $3.8 billion, according to Reuters Estimates. The busiest period for wireless-chip makers typically straddles a stretch between the third and fourth quarters.

TI's third-quarter sales had also missed market estimates, though profit from continuing operations was in line.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved