Texas Instruments Q1 Earnings: EPS Beat, Revenue Beat Despite Decline Across All End Markets

Texas Instruments Inc TXN reported first-quarter financial results after the market close on Tuesday. Here’s a look at the key metrics from the quarter.

Q1 Earnings: Texas Instruments reported first-quarter revenue of $3.66 billion, which beat the consensus estimate of $3.611 billion, according to Benzinga Pro. The company’s top-line results were down 16% on a year-over-year basis and down 10% sequentially as revenue declined across all end markets.

Texas Instruments reported quarterly earnings of $1.20 per share, which beat analyst estimates of $1.08 per share. The company noted that earnings per share included a 10-cent benefit for items that were not in the original guidance.

Cash flow from operations totaled $6.3 billion for the trailing 12 month period. Free cash flow for the same period was $940 million.

“Our cash flow from operations of $6.3 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production,” said Haviv Ilan, president and CEO of Texas Instruments.

Outlook: Texas Instruments expects second-quarter revenue to be in the range of $3.65 billion to $3.95 billion versus estimates of $3.77 billion. The company anticipated second-quarter earnings in the range of $1.05 to $1.25 per share versus estimates of $1.16 per share.

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

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TXN Price Action: Texas Instruments shares were up 5.43% after hours at $174.40 at the time of publication Tuesday, according to Benzinga Pro.

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