Texas Instruments Incorporated (NASDAQ:TXN) just released its first quarter 2017 financial results, posting earnings of $0.89 per share and revenues of $3.4 billion. Currently, Texas Instruments is a Zacks Rank #2 (Buy), and is down 0.44% to $82.06 per share in after-hours trading shortly after its earnings report was released.
Texas Instruments:
Beat earnings estimates. The company posted earnings of $0.89 per share (excluding $0.08 from non-recurring items), topping the Zacks Consensus Estimate of $0.83 per share.
Beat revenue estimates. The company saw revenue figures of $3.4 billion, beating our consensus estimate of $3.3 billion.
Texas Instruments reported revenues of $3.4 billion in the first quarter of 2017, up 13.1% year-over-year. The increase was due in part to greater demand in its automotive and industrial sectors. The company posted net income of $997 million.
Revenue increased for both TI’s Connected Microcontrollers and Processors lines. Operating profit for the embedded processing line rose due in part to higher revenue and associated gross profit.
The chipmaker set its second-quarter revenue outlook in the range of $3.40 billion to $3.70 billion, and it expects earnings per share to fall between $0.89 and $1.01.
“Demand for our products continued to be strong in the automotive market and continued to strengthen in the industrial market,” Texas Instruments chairman, president, and CEO Rich Templeton said in a statement.
"In our core businesses, Analog revenue grew 20 percent and Embedded Processing revenue grew 10 percent from the same quarter a year ago. Operating margin increased in both businesses.”
Here’s a graph that looks at Texas Instruments’ Price, Consensus and EPS Surprise history:
Texas Instruments, Inc. is a global semiconductor company and one of the world's leading designers and suppliers of digital signal processors and analog integrated circuits, the engines driving the digitization of electronics. These two types of semiconductor products work together in digital electronic devices such as digital cellular phones. Other semiconductor products include standard logic, application- specific integrated circuits, reduced instruction-set computing microprocessors, microcontrollers and digital imaging devices.
Check back later for our full analysis on Texas Instruments’ earnings report!
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Texas Instruments Incorporated (TXN): Free Stock Analysis Report
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