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Texas Instruments Posts Lower Profit, Revenue

Monday, 23 Jul 2012 04:43 PM

Texas Instruments Inc posted lower profit and revenue as its customers are "increasingly cautious in placing new orders" because of global economic uncertainties.

The maker of chips used in a wide range of products such as cellphones and industrial equipment reported earnings of $446 million, or 38 cents per share, compared with $672 million, or 56 cents per share, in the year-ago quarter.

Revenue fell to $3.34 billion from $3.46 billion and compared with analysts' average expectation for $3.35 billion according to Thomson Reuters I/B/E/S.

The results were reported after regular stock-market trading ended Monday.

© 2017 Thomson/Reuters. All rights reserved.

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