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By Reuters Staff Writer | July 23, 2012 9:58 PM GMT
(Reuters) - Texas Instruments Inc (NYSE: TXN) quarterly profit and revenue fell from a year ago, saying 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.
TXN forecasts that it will earn 34 cents to 42 cents per share in the third quarter, on revenue of $3.21 billion to $3.47 billion.
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