TI forecasts modest third quarter

Reuters News
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Posted: Jul 25, 2011 5:09 PM
TI forecasts modest third quarter

NEW YORK (Reuters) - Texas Instruments Inc <TXN.N>, warning of economic uncertainties, forecast only modest sequential growth in the current quarter.

The company, whose chips are found in products ranging from cellphones to cars, said it expects third-quarter revenue of $3.4 billion to $3.7 billion, compared with the average analyst expectation for $3.6 billion, according to Thomson Reuters I/B/E/S.

For the second quarter TI earned $672 million, or 56 cents per share, compared with $769 million, or 62 cents per share, in the year-ago quarter. Revenue fell to $3.46 billion from almost $3.5 billion and was slightly ahead of analysts' consensus forecast.

(Reporting by Sinead Carew; Editing by Richard Chang)