Texas Instruments Reports Higher Q2 Profit

Texas Instruments

released its fiscal first-quarter earnings results after the closing bell on Monday. In late trading, TXN was last unchanged at $34.82. The company reported net income of $362 million or $0.32 per share, compared to $265 million or $0.22 per share, in last year's corresponding quarter. This compared to Wall Street analysts' consensus earnings per share of $0.30. Revenues for the period were down 8 percent to $2.885 billion from $3.121 billion last year. This came in slightly ahead of analysts' consensus revenue of $2.85 billion. Looking ahead to the second-quarter, Texas Instruments guided for earnings per share between $0.37 to $0.45 on revenue of $2.93 billion to $3.17 billion. This compares to current analysts' consensus estimates of $0.30 per share on revenue of $3.04 billion for the fiscal second-quarter.