Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Texas Instruments Cuts First-Quarter Guidance

Tickers in this article: TXN

DALLAS (TheStreet) -- Texas Instruments(TXN) slashed its first-quarter guidance, as the company said it still sees a reduction in demand for its wireless products.

The Dallas-based chipmaker lowered its first-quarter earnings outlook to 15 cents to 19 cents per share on a revenue range of $2.99 billion to $3.11 billion. It had previously seen earnings of 16 cents to 24 cents per share on a revenue range of $3.02 billion to $3.28 billion.

Analysts polled by Thomson Reuters expect Texas Instruments to report first-quarter results of 31 cents per share on revenue of $3.16 billion.

Shares were dropping in after-hours trading, down 1.9% to $31.98, according to Nasdaq.com.

Interested in more on Texas Instruments? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

-- Written by Chris Ciaccia in New York

>To follow the writer on Twitter, go to http://twitter.com/commodity_bull.

>To submit a news tip, send an email to: tips@thestreet.com