Texas Instruments predicts lower profits in third quarter

US firm Texas Instruments, the biggest maker of chips for mobile phones, narrowed its profit outlook for the third quarter without changing the midpoint of its previous forecast, made in July, an Associated Press report said.


The report said TI was benefiting from strong demand for chips used in mobile phones, high-definition televisions and other electronic devices.


The semiconductor bellwether said it expected to earn $0.44 to $0.46 per share from continuing operations, compared to July's prediction of $0.42 to $0.48 per share, according to the report.


Analysts were expecting $0.45 per share, according to a survey by Thomson Financial, the report said.


The Dallas-based company said earnings would range from $3.71 billion to $3.87 billion, compared to July's forecast of $3.63 billion to $3.95 billion. Analysts were looking at $3.80 billion.


Semiconductor revenue was expected to account for $3.53 billion to $3.67 billion of the total, the same range as before, the report said.