(Reuters) – Texas Instruments Inc. only offered to a general slowdown in the chip of the question, it would not be as long as feared, the post-quarter earnings and revenue that beat Wall Street’s estimates on Tuesday.
FILE PHOTO: A Texas Instruments (ti), the Office is shown in San Diego, California, USA, on April 24, 2018. REUTERS/Mike Blake
The company’s shares rose by 6.4%, to $127.70 in extensive commerce, and was on his way to get you to open up to a record high on Wednesday.
The company had previously warned that the delay could last a couple of quarters, as the chinese economy cools off and the manufacturers will be faced with the consequences of a long-term U.S.-China trade dispute.
When asked if the trade dispute had an impact on the ability of the company to do business in China, as the Chief executive Officer (ceo), Rafael Lizardi said, “no, No, not at all”.
The market was also encouraged by the numbers, one of the first chipmakers to report earnings for the quarter, as there is uncertainty around the demand, as a result of the higher prices, and the impact of china’s Huawei Technologies.
In Texas, one of which is the broad line-up of products in the market, it is a proxy for the chip industry, said it expects third-quarter revenue in the range of $3.65 billion to $3.95 billion. The company has estimated a profit of between $1.31 and $1.53 per share.
Analysts on average were expecting revenue of $3.83 billion, and a net profit of $1.38 per share, according to IBES data, Refinitiv.
“The guidance reflects the improved sequential demand as a result of the influence of the seasons, in all of its markets, which is compensated for by the macro uncertainty,” Top-Insight Group-analyst Kinngai, Chan said.
Chan, however, expressed its concern about the continued choppy demand in the industrial and automotive markets as a result of the slowdown in growth in China.
Sales in the industrial and automotive units are the fastest-growing regions, which together account for more than half of the company’s revenue by 2018.
Net income fell to $1.31 billion, or $1.36 per diluted share, for the second quarter ended June 30, from $1.41 billion, or $1.40 per diluted share, a year earlier.
Analysts had expected a profit of $1.22 per share in cash.
Total revenues decreased 9% to $3.67 billion, but beat estimates of $3.6 billion.
Reporting Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila