Texas Instruments quarterly revenue falls 11.5%

Oct 22 (Reuters) – Texas Instruments Inc reported an 11.5% drop in quarterly revenue on Tuesday, hit by a global slowdown in sales of microchips that started late last year.

Net income fell to $1.43 billion, or $1.49 per share, in the third quarter ended Sept. 30, from $1.57 billion, or $1.58 per share, a year earlier.

Total revenue for the company, whose broad lineup of products makes it a proxy for the chip industry, fell to $3.77 billion from $4.26 billion. (Reporting by Munsif Vengattil in Bengaluru Editing by Saumyadeb Chakrabarty)

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