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Texas Instruments' stock is climbing following robust earnings and positive guidance
Texas Instruments Inc. experienced a significant surge in its stock value, nearly 8%, during extended trading on Tuesday. This increase followed the announcement of the semiconductor company's quarterly results, which exceeded expectations. For the fiscal first quarter, Texas Instruments reported a net income of $1.11 billion, equivalent to $1.20 per share. This figure contrasts with the net income of $1.7 billion, or $1.85 per share, recorded in the same quarter the previous year.
The company's revenue saw a decline of 16%, totaling $3.66 billion, down from $4.4 billion in the year-ago quarter. Despite this drop, the results were still ahead of market forecasts. Analysts, as surveyed by FactSet, had projected earnings of $1.07 per share on revenue expectations of $3.6 billion.
Looking ahead, Texas Instruments has set its sales guidance for the second quarter between $3.65 billion to $3.95 billion. Analyst expectations from FactSet suggest a slightly more conservative forecast of $3.74 billion.
Year-to-date, shares of Texas Instruments have seen a decrease of 3%. In contrast, the broader S&P 500 index has experienced a growth of 6% over the same period.
This summary encapsulates Texas Instruments' financial performance and outlook, highlighting the critical aspects that have influenced the stock's recent movement and expectations for the coming quarter.
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