Texas Instruments raises lower end of first-quarter projections for earnings, revenue
By APMonday, March 8, 2010
Texas Instruments raises low end of 1Q guidance
DALLAS — Texas Instruments Inc. raised the lower end of its first-quarter guidance Monday.
In regularly scheduled update, the maker of chips for mobile phones and other electronics forecast earnings per share of 48 cents to 52 cents per share. In late January, Texas Instruments had projected earnings per share of 44 cents to 52 cents.
The company, based in Dallas, expects first-quarter revenue to range from $3.07 billion to $3.19 billion. Texas Instruments previously had said its revenue might be as low as $2.95 billion.
Analysts, on average, had predicted Texas Instruments would earn 49 cents per share on revenue of $3.08 billion, according to Thomson Reuters.
Texas Instruments shares dipped 4 cents in Monday’s extended trading after finishing the regular session at $24.69, down 28 cents.
