Texas Instruments (NASDAQ:TXN) earnings for first quarter of 2020 have TXN stock up after markets closed on Tuesday. That’s thanks to its diluted earnings per share (EPS) of $1.24 beating out Wall Street’s estimate of $1.00. The tech company’s revenue of $3.33 billion also comes in above analysts’ estimates of $3.17 billion.
The following are some additional highlights from the most recent Texas Instruments earnings report.
- Diluted per-share earnings are down 1.59% from $1.26 during the first quarter of 2019.
- Revenue for the quarter is 7.24% lower than the $3.59 billion in the same period of the year prior.
- Operating income of $1.24 billion is a 10.15% drop year-over-year from $1.38 billion.
- The Texas Instruments earnings report also includes a net income of $1.17 billion.
- That’s a 4.1% decrease compared to its net income of $1.22 billion from the same time last year.
Rich Templeton, president and CEO of Texas Instruments, said this about the TXN stock earnings.
“Our cash flow from operations of $6.4 billion for the trailing 12 months again underscored the strength of our business model. Free cash flow for the same period was $5.6 billion and 40% of revenue. This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter Analog production.”
The Texas Instruments earnings report does include its outlook for the second quarter of 2020. It expects diluted EPS of 64 cents to $1.04 on revenue of $2.61 billion to $3.19 billion. Wall Street is looking for diluted EPS of 99 cents on revenue of $3.15 billion in Q2.
TXn stock was up 1.91% after-hours Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.