Texas Instruments forecast current-quarter sales below estimates

(Reuters) – Texas Instruments Inc on Tuesday forecast second-quarter revenue below Wall Street estimates, as the chip industry braces for a big hit from the coronavirus outbreak.

The company, whose broad lineup of products makes it a proxy for the chip industry, said it expected revenue in the range of $2.61 billion to $3.19 billion, the midpoint of which was below analysts’ expectations of $3.15 billion, according to IBES data from Refinitiv.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Devika Syamnath)