Yet another... a... ah... a surprise... higher revenue and lower earnings and even lower expected earnings.
Why? Because TI is a US co.
All Q long it sells all over the world for lots of $ while the US dollar is low because of the Fed printing. Just look at the Forex charts. Then, at the end of the Q, when they receive payments (net 30, 45, 90) etc. then the US dollar is suddenly valuable because there was a Fed statement in Sept. that clearly said "there is no more money printing for now."
So revenue (in US $) is high, earnings are low. A co. like TI is big enough to have sales all over the globe, but is also too small to have a "currency exchange" dept. as does a large international co. like IBM that carefully hedges its international business with currency futures.
That's why we are seeing this over and over again.
It's all a currency trade for the not-yet-educated.
US corporations? Without the currency exchange, they are net losing real money. A kid in 6th grade can figure this out on his or her own.
