Texas Instruments stock falls 12% as CEO warns of tariff concerns
On Sunday, January 21, 2024, Dallas, Texas, Texas Instrument in the USA.
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Texas instruments After the automotive and industrial semiconductor supplier was warned about the continuous tariff aftershocks, stocks fell 12%.
The company said that the third quarter earnings between $ 1.36 and $ 1.60 per share expect $ 1.48 mid -point per share. This was below an estimation of $ 1.50.
Texas Instruments awaits between $ 4.45 billion and $ 4.48 billion. The $ 4.63 billion midpoint was slightly ahead of $ 4.59 billion expected by analysts.
CEO Haviv Ilan said that the company has experienced “shallow” improvement in the automotive sector and that customers may be concerned about tariffs and geopolitical uncertainty.
Despite the collapse after winning, Texas Instruments made an annual 16% leap in income. The company has reported $ 1.41 billion per share revenue of $ 4,45 billion, and earned $ 1.35 per share with $ 4.36 billion expected by LSEG analysts.
Ilan said that some of the second quarter power could come from a traction requested to get inventory before tariffs.
The net revenue for the company increased from $ 1.13 billion or $ 1.22 per share a year ago to $ 1.3 billion or $ 1.41 per share.
WRISTWATCH: Texas Instruments shares fall more than 7%, although they have a rhythm every three months.
Kif Leswing from CNBC contributed to this story.
