Texas Instruments (NASDAQ:TXN) unveiled its quarterly earnings results late today, bringing in earnings that topped expectations but declined year-over-year, while its guidance for the current quarter came suggested that the company has a bright future ahead of it.
The Dallas, Texas-based business — which is the sixth-largest chipmaker in the world — said that for its first quarter of its fiscal 2019, it brought in net income of $1.22 billion, which tallied up to $1.26 per share. This marked a decline of nearly 11% when compared to its earnings during the same period in its fiscal 2018, when it brought in earnings of $1.37 billion, or $1.35 per share.
Wall Street saw Texas Instruments bringing in a profit of roughly $1.13 per share. Revenue was also down when compared to the year-ago quarter, coming in at $3.59 billion, marking a 5.1% slide from the $3.8 billion it brought in during the year-ago quarter. Analysts predicted the company would rake in sales of $3.48 billion.
For its second quarter of the current fiscal year, the company predicts that earnings will be in the range of $1.12 to $1.32 per share, while analysts predict that the company’s earnings will be roughly $1.24 per share. Texas Instruments also sees its sales climbing as high as $3.74 billion.
Analysts see the company’s revenue for its second quarter at $3.66 billion, according to data compiled by Bloomberg.
TXN stock is down about 2.2% after the bell Tuesday following the company’s earnings decline. Shares had been gaining 1.2% during regular trading hours.
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