Texas Instruments Sales, Profit Jump -- Earnings Review
25 April 2018 - 8:27AM
Dow Jones News
By Imani Moise
Texas Instruments Inc. (TXN) reported first-quarter earnings
after the closing bell Tuesday. Here's what you need to know:
REVENUE: Sales jumped 11% to $3.79 billion, driven by demand for
the company's analog and embedded processing products in industrial
and automotive markets. Analysts polled by Thomson Reuters had
forecast $3.65 billion in revenue.
EARNINGS: Profit also topped Wall Street's views. The
manufacturing company reported a profit of $1.37 billion, or $1.35
a share, up from $997 million, or 97 cents in the year earlier
quarter. Consensus was for $1.11 in earnings.
OUTLOOK: The company also gave an upbeat outlook for the quarter
in progress, forecasting earnings of $1.19 to $1.39 a share on up
to $4.1 billion in revenue. Analysts had modeled $1.23 a share on
$3.9 billion in sales.
STOCK MOVE: Shares rose 4.4% to $102.75 during extended trading.
As of Tuesday's close, the stock had fallen 5.8% so far this year
while the S&P 500 has dropped 1.5%.
(END) Dow Jones Newswires
April 24, 2018 18:12 ET (22:12 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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