Texas Instruments (NASDAQ:TXN) posted its quarterly earnings outlook Tuesday, which includes a profit that is better than what analysts predict, playing a role in lifting TXN stock more than 6% late today.
The Dallas, Texas-based tech business said that for its third quarter, it sees profit in the range of $1.31 to $1.53 per share, with the midpoint guidance of $1.42 per share surpassing the Wall Street consensus forecast. Analysts see this figure at $1.37 per share, according to data compiled by Bloomberg.
Texas Instruments added that it foresees sales in the range of $3.65 billion to $3.95 billion, with the midpoint of $3.80 billion below the $3.84 billion that analysts call for, per Bloomberg. Even if the business achieves the high end of that guidance, revenue will slide 7.3% when compared to the year-ago period.
The company added that for its second quarter of fiscal 2019, it brought in net income of $1.31 billion, or $1.36 per share. This is a decline of about $100 million when compared to Texas Instruments’ profit of $1.41 billion, or $1.40 per share, from the same period a year ago.
Its sales also fell about 9.5% when compared to the year-ago period, coming in at $3.67 billion. Wall Street saw the business amassing earnings of $1.22 per share, as well as sales of $3.6 billion.
TXN stock is up about 6.6% after hours today following the strong earnings guidance. Shares had been increasing 1.6% during regular trading hours.
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