In the March quarter, Texas Instruments exceeded Wall Street’s expectations for earnings and sales, while providing guidance that was above expectations for the second quarter. This positive news caused TXN stock to rise in after-hours trading.
For the current quarter, Texas Instruments projected earnings of $1.15 a share on sales of $3.8 billion, based on the midpoint of its guidance. Analysts had anticipated earnings of $1.15 a share on sales of $3.74 billion. In the same period a year ago, the company earned $1.87 a share on sales of $4.53 billion. Despite this improvement in earnings and sales, Texas Instruments experienced a 35% decline in earnings and a 16% decline in sales compared to the previous year. This marks the sixth consecutive quarter of declining sales and earnings for Texas Instruments, with analysts forecasting these declines to continue for at least the next two quarters.
Following the positive earnings report, TXN stock rose more than 5% in after-hours trading to 174.76. During regular trading hours, it also increased by 1.2% to close at 165.42. Chief Executive Haviv Ilan mentioned that revenue declined across all end markets in the March quarter due to ongoing cyclical downturn.
With a ranking of No
