CORRECTED-Texas Instruments revenue declines in Q3

Mon Oct 22, 2012 5:18pm EDT

(Corrects to reflect that profit rose rather than fell in paragraph two)

NEW YORK Oct 22 (Reuters) - Texas Instruments Inc posted a decline in quarterly revenue as demand for its chips slipped on economic concerns and it forecast more weakness this quarter.

The maker of chips used in products ranging from consumer electronics to industrial equipment posted a profit of $784 million, or 67 cents per share, up from $601 million, or 51 cents per share, in the year-ago quarter.

Revenue declined to $3.39 billion from $3.47 billion in the year-ago quarter. (Reporting by Sinead Carew; Editing by Richard Chang)

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