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Texas Instruments Reports Profits Down 56 Percent

Posted by Susan Hall Jul 21, 2009 9:52:03 AM

Texas Instruments, hurting like other chip makers from the plunge in demand for chips, reported its profit declined 56 percent in the second quarter, reports Bloomberg.

 

Net income fell to $260 million, or 20 cents a share, from $588 million, or 44 cents, in the period a year ago. Nevertheless, it beat Wall Street expectations.

 

Demand remains weak in the United States and Europe, but is rebounding in Asia, according to The Wall Street Journal.

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