Texas Instruments (TXN) this afternoon posted Q3 revenue of $3.74 billion and profits of 71 cents a share, edging the Street consensus at $3.69 billion and 69 cents.
For Q4, the chip company sees revenue falling back to a range of $3.36 billion to $3.64 billion, with profits of 59-67 cents, about in line with the Street at $3.51 billion and 63 cents.
CEO Rich Templeton said in a statement that the forecast for sequentially lower revenue reflects “a combination of seasonal patterns, continued soft demand in computing and consumer markets, and slowing growth in the industrial market.”
TXN is down 30 cents, or 1%, to $28.68, in after hours trading.
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