Semiconductor company Texas Instruments Incorporated (NASDAQ: TXN) reported a sharp decline in third-quarter revenues and profit. The company also provided guidance for the fourth quarter.
September quarter net profit declined sharply to $1.71 billion or $1.85 per share from $2.30 billion or $2.47 per share in the corresponding period of 2022.
The bottom line was negatively impacted by a 14% fall in revenues to $4.53 billion. For the fourth quarter of 2023, the management expects revenues to be in the range of $3.93 billion to $4.27 billion, and earnings per share between $1.35 and $1.57.
