Texas Instruments Stock Jumps 2.66% Premarket as Q1 Results Top Estimates

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Texas Instruments Stock Jumps 2.66% Premarket as Q1 Results Top Estimates

Tiger Newspress2023-04-26

Texas Instruments reported Tuesday first-quarter results that topped analysts' expectations, and the chipmaker delivered current-quarter guidance that met estimates despite a weaker backdrop for chip demand.

Texas Instruments shares rose 2.66% in premarket trading following the report.

Texas Instruments announced earnings per share of $1.85 on revenue of $4.38 billion. Analysts polled by Investing.com anticipated EPS of $1.77 on revenue of $4.37B.

Analog revenue, which makes up the bulk of overall revenue, decreased 14% year-on-year in the quarter, while embedded processing gained 6%.

"During the quarter we experienced weakness across our end markets with the exception of automotive, as expected," the company said.

Looking ahead, Texas Instruments guided second-quarter EPS in the range of $1.62 per share to $1.88 per share, and revenue between $4.17B and $4.53B. That compared with estimates for earnings of $1.83 a share on revenue of $4.44B.

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