Texas Instruments Beats Expectations on Strength in Industrial, Automotive,
2022.04.26 23:50
By Sam Boughedda
Investing.com — Texas Instruments Incorporated (NASDAQ:TXN) stock is down 6.8% after-hours trading on Tuesday following its first quarter earnings results.
The semiconductor manufacturing company reported earnings per share of $2.35 on revenue of $4.91 billion. Those figures beat analyst estimates of $2.18 per share on revenue of $4.74 billion. Earnings per share included a 2-cent benefit for items not in the company’s original guidance.
Revenue grew 14% from the same quarter a year ago, largely due to growth in industrial and automotive, the company said.
The company sees second-quarter revenue in the range of $4.2 billion to $4.8 billion and earnings per share between $1.84 and $2.26.
However, they cautioned that the outlook “comprehends an impact due to reduced demand from COVID-19 restrictions in China.”
