Texas Instruments' stock is on the rise after strong results, guidance

By Jon Swartz

Texas Instruments Inc.'s stock immediately jumped nearly 8% in extended trading Tuesday after the semiconductor company rang up better-than-expected quarterly results and guidance.

Texas Instruments (TXN) reported fiscal first-quarter net income of $1.11 billion, or $1.20 a share, compared with net income of $1.7 billion, or $1.85 a share, in the same quarter a year ago.

Revenue declined 16% to $3.66 billion from $4.4 billion in the year-ago quarter.

Analysts surveyed by FactSet had expected on average earnings of $1.07 a share on revenue of $3.6 billion.

Texas Instruments provided second-quarter sales guidance of $3.65 billion to $3.95 billion, while FactSet analysts are forecasting $3.74 billion.

Shares of Texas Instruments have declined 3% so far this year, while the broader S&P 500 index SPX has improved 6%.

-Jon Swartz

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04-23-24 2047ET

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