Texas Instruments Earnings, Revenue Beat in Q1

imageStock Markets1 hour ago (Apr 21, 2020 04:05PM ET)

(C) Reuters. Texas Instruments Earnings, Revenue Beat in Q1 – Texas Instruments (NASDAQ:TXN) reported on Tuesday first-quarter earnings that beat analysts’ forecasts and revenue that topped expectations.

Texas Instruments announced earnings per share of $1.14 on revenue of $3.33 billion. Analysts polled by anticipated EPS of $1.01 on revenue of $3.19B. That compares to EPS of $1.26 on revenue of $3.59 billion in the same period a year before. Texas Instruments had reported EPS of $1.12 on revenue of $3.35 billion in the previous quarter. Analysts are expecting EPS of $1.05 and revenue of $3.26 billion in the upcoming quarter.

The stock rose about 3% in postmarket trading.

Looking ahead, TI widened the range of its guidance, noting that with “a COVID-19 recession likely upon us, and with reduced visibility of customer demand, we are using the 2008 financial crisis to model our second quarter outlook.”

For the second quarter the company now predicts revenue of $2.61 billion to $3.19 billion, with earnings of 64 cents to $1.04 per share, including a $10 million tax benefit.

The midpoint of the revenue range would be below the consensus estimate of $3.15 billion from Refinitiv.

“Texas Instruments gets the biggest portion of its revenue from the industrial market and is a major supplier to automakers and telecommunications equipment producers,” analyst Haris Anwar said. “While these industries remain under pressure, TI will be facing short-term headwinds.”

“That said, it has a fabulous balance sheet, ample free cash flow and healthy dividend, making it an attractive long-term buy,” Anwar said.

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Texas Instruments Earnings, Revenue Beat in Q1

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