Net income was $1.72 billion compared to $2.29 billion a year ago.
Haviv Ilan (pictured), TI’s President and CEO cited weakness similar to the previous quarter across end markets with the exception of automotive.
Analogue revenue declined 18%, embedded processing grew 9%, and other segments declined 10% from the year ago quarter.
Looking at TI’s end markets, the company said that the industrial market was about flat. The automotive market was up low-single digits. Personal electronics was up low-single digits after several quarters of sequential declines. Communications equipment was down mid-teens, and enterprise systems was down mid-single digits.
TI is forecasting third-quarter revenues of $4.36 billion to $4.74 billion. Analysts had estimated revenue of $4.59 billion.