Texas Instruments Earnings: Here’s Why Shares are Selling Off
Texas Instruments Inc. (NYSE:TXN) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1%.
Texas Instruments Inc. Earnings Cheat Sheet
Results: Net income decreased -11.41% to $264 million (23 cents per diluted share) in the quarter versus a net gain of $298 million in the year-earlier quarter.
Revenue: Decreased 12.87% to $2.98 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Texas Instruments Inc. reported adjusted net income of 23 cents per share. By that measure, the company missed the mean analyst estimate of $0.34. It beat the average revenue estimate of $2.95 billion.