U.S. chip company Texas Instruments (TI) also believes a drop in sales compared to the second quarter of the year is possible in the current third quarter.
Revenue is expected to be $ 4.40 billion to $ 4.76 billion, Texas Instruments said Wednesday after the U.S. market closed. Analysts had previously forecast an average of $ 4.59 billion for the third quarter.
In the second quarter of the year, thanks to strong demand from all applications, sales reached $ 4.58 billion, an increase of 41 percent compared to the weak quarter dominated by Corona the previous year. Analysts had expected less for the second quarter.
The conclusion was a profit of $ 1.93 billion in the second quarter, an increase of 40 percent. TI earned $ 2.05 per share after $ 1.48. In terms of earnings per share (EPS), TI expects $ 1.87 to $ 2.13 for the current third quarter. Experts currently assume an average of $ 1.97. The stock was under pressure after trading and lost over three percent.
Texas Instruments is the first U.S. chipmaker to release quarterly results. The company mainly produces for the industrial and automotive sectors. The company also supplies chips that control everyday devices such as televisions and washing machines, but also medical devices.
In NYSE trading, TI shares eventually lost 5.32 percent to $ 183.91.