Texas Instruments Inc. will cut 1,100 jobs and depart the mobile phone chip business after predicting its first quarter profits will fall short of analyst expectations, Bloomberg reports. Texas Instruments announced that its first quarter net income will be 36 cents to 44 cents a share, including restructuring costs, on sales of $2.83 billion to $3.07 billion. Analysts on average were projecting earnings of 44 cents and revenue of $2.96 billion. Texas Instruments says it will reduce costs by eliminating…
Reported by bizjournals 2 days ago.
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