Why Texas Instruments Shares Are Sliding After Hours

Texas Instruments Inc TXN shares are trading lower in Tuesday's after-hours session after the company reported mixed first-quarter results and issued weak guidance. 

Q1 Earnings: Texas Instruments reported first-quarter revenue of $4.38 billion, which narrowly missed estimates, according to Benzinga Pro. The company's top-line results were down 11% year-over-year and down 6% sequentially, driven by weakness across end markets, with the exception of automotive.

Texas Instruments reported quarterly earnings of $1.85 per share, which beat estimates of $1.78 per share.

Outlook: Texas Instruments sees second-quarter revenue in a range of $4.17 billion to $4.53 billion versus estimates of $4.45 billion. The company expects second-quarter earnings to be between $1.62 and $1.88 per share versus estimates of $1.82 per share. 

See Also: Microsoft Shares Move Higher On Earnings Beat, CEO Says Company Is Platform Of Choice For 'Next Generation Of AI'

TXN Price Action: Texas Instruments shares were down 2.93% after hours at $164.43 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Texas Instruments.