Texas Instruments Blows Earnings, Laying Off 12% (TXN)

Surprise, surprise, we guess no one was interested in Texas Instruments’ (TXN) plan to let two people watch different shows on a TV at once (so long as they both wear polarised glasses and one person has an earpiece). The company announced Q4 results today, and missed the (lowered) guidance it gave just last month.

Key figures:

  • Revenue: $2.49 billion, guidance $2.30 – $2.50, consensus $2.37 billion
  • EPS: $0.08, guidance $0.10 – $0.16, consensus $0.12
  • Q1 revenue guidance: $1.62 – $2.12 billion, consensus $2.10 billion
  • Q1 EPS guidance: $0.11 loss – $0.03 profit, consenus $0.04

The company will be reducing its headcount by about 12%, with 1800 layoffs and another 1600 voluntary departures.

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