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Texas Instruments Inc. has blamed the Japanese earthquake for its disappointing financial results, which came in below analyst estimates.
The chipmaker disclosed first-quarter revenue of $3.39 billion, down from $3.525 billion last quarter. It also posted net income of $666 million and earnings per share of 55 cents compared with $942 million and earnings per share of 78 cents back in Q2. In the same quarter last year, TI posted revenue of $3.205 billion, net income of $658 million and earnings per share of 52 cents.
Analysts had been predicting TI to earn 58 cents a share on sales of $3.4 billion, but the company said its results had suffered owing to around $30 million in costs resulting from the Japan earthquake where the firm has a wafer fab in Miho.
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Photo Credit: Texas Instruments
Texas Instruments Inc. has blamed the Japanese earthquake for its disappointing financial results, which came in below analyst estimates.
The chipmaker disclosed first-quarter revenue of $3.39 billion, down from $3.525 billion last quarter. It also posted net income of $666 million and earnings per share of 55 cents compared with $942 million and earnings per share of 78 cents back in Q2. In the same quarter last year, TI posted revenue of $3.205 billion, net income of $658 million and earnings per share of 52 cents.
Analysts had been predicting TI to earn 58 cents a share on sales of $3.4 billion, but the company said its results had suffered owing to around $30 million in costs resulting from the Japan earthquake where the firm has a wafer fab in Miho.
Would you like all your dreams to come true? Follow Marc Speir on twitter @truthorcon.
MORE >>>
