Semiconductor company Texas Instruments Incorporated (NASDAQ: TXN) has reported a double-digit decrease in second-quarter revenues. The company also provided guidance for the third quarter.
June quarter net profit declined sharply to $1.72 billion or $1.87 per share from $2.29 billion or $2.45 per share in the corresponding period of 2022.
The bottom line was negatively impacted by a 13% fall in revenues to $4.53 billion. For the third quarter of 2023, the management expects revenues to be in the range of $4.36 billion to $4.74 billion, and earnings per share between $1.68 and $1.92.