Texas Instruments Inc., the biggest maker of analog chips, topped estimates with its latest results but gave a downbeat outlook for the current period, fueling concern that demand is still sluggish after an industry glut.

Despite these challenges, Texas Instruments has historically demonstrated resilience, having surpassed earnings estimates in three of the last four quarters, with an average earnings surprise of 4.97%. Several dynamics are expected to shape Texas Instruments’ performance this quarter:

Texas Instruments published its Q3 2024 earnings report after markets closed today. The company reported $4.15 billion in revenue, edging out the expectation of $4.1 billion. As for EPS, Texas Instruments earned $1.47 per-share against the expected $1.38.