Onsemi's downbeat forecast casts doubt on auto chip recovery [Yahoo! Finance]
Texas Instruments Incorporated (TXN)
Last texas instruments incorporated earnings: 4/21 04:01 pm
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Source: Yahoo! Finance
The outlook contrasts with more optimistic commentary from companies like Texas Instruments, which reported improving demand from China's car market. "For the full year 2024, we don't expect meaningful market growth," Onsemi CEO Hassane El-Khoury said on a post-earnings call. Still, Onsemi shares were 2.7% higher in volatile trading as its third-quarter revenue and profit slightly beat estimates. The stock has declined 14% this year due to concerns about slowing demand for automotive chips. The Scottsdale, Arizona-based company forecast fourth-quarter revenue to be between $1.71 billion and $1.81 billion, the mid-point of which was slightly below analysts' view of $1.77 billion, according to estimates compiled by LSEG. Onsemi, whose customers include Chinese carmakers Li Auto, BYD and Xpeng said that its China revenue did not increase at the level expected for the second half of the year due to lower automobile demand. Third-quarter revenue from the automotive end-market wa
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TXN
Earnings
- 10/22/24 - Beat
TXN
Sec Filings
- 11/13/24 - Form 4
- 11/13/24 - Form 4
- 11/13/24 - Form 4
- TXN's page on the SEC website