Texas Instruments Jumps 4% on Q1 Results
Texas Instruments (NYSE: TXN) released its fiscal first quarter earnings results on Monday after the closing bell. The company reported net income of $265 million or $0.22 per share, versus $666 million or $0.55 per share in last year's corresponding quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.29.
Texas Instruments said that the Q1 earnings included a $0.10 charge associated with the company's acquisition of National Semiconductor and restructuring.
Revenues in the quarter came in at $3.12 billion from $3.39 billion in last year's first quarter. This came in ahead of Wall Street consensus revenue estimates of $3.06 billion.
Looking ahead to the second quarter, TXN sees EPS of $0.30-$0.38 on revenues of $3.22 billion to $3.48 billion. Currently analysts are projecting that TXN will report EPS of $0.40 on revenues of $3.29 billion in the second quarter.
The company's guidance includes roughly $110 million in expected charges which will impact EPS by around $0.06.
In Monday's after hours trading session, TXN shares have risen 3.45% to $32.99.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.