GO
Loading...

Enter multiple symbols separated by commas

Texas Instruments Cuts 4th Quarter EPS

Texas Instruments
Daniel Acker | Bloomberg | Getty Images
Texas Instruments

Texas Instruments on Monday cut its earnings target for the fourth quarter because of hefty charges for a restructuring of its wireless business.

The chip maker said it now expects current-quarter earnings per share in a range of 5 to 9 cents compared with its previous expectation of 23 to 31 cents.

The new target includes a charge of 21 cents a share related to the company's November announcement that it will cut 1,700 jobs as it moves out of the market for application chips in cell phones.

It forecast revenue of $2.89 billion to $3.01 billion from its previous expectation for $2.83 billion to $3.07 billion.

Contact Technology

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Re/code

  • Co-CEO, Revere Digital; Co-Executive Editor, Re/code; and Co-Executive Producer, The Code Conference. Re/code is part of the CNBC network.

  • Co-CEO, Revere Digital; Co-Executive Editor, Re/code; and Co-Executive Producer, The Code Conference. Re/code is part of the CNBC network.

Re/code

  • Co-CEO, Revere Digital; Co-Executive Editor, Re/code; and Co-Executive Producer, The Code Conference. Re/code is part of the CNBC network.

  • Co-CEO, Revere Digital; Co-Executive Editor, Re/code; and Co-Executive Producer, The Code Conference. Re/code is part of the CNBC network.