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Texas Instruments Stock Slips Post Q1 Results, China Restrictions Impacting Q2 Outlook

Published 26/04/2022, 21:47
© Reuters. Texas Instruments Stock Slips Post Q1 Results, China Restrictions Impacting Q2 Outlook
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  • Texas Instruments Incorporated (NASDAQ: NASDAQ:TXN) reported first-quarter revenue growth of 14% year-over-year to $4.91 billion, beating the consensus of $4.74 billion.
  • Gross margin expanded by 496 bps to 70.2%.
  • The operating profit improved by 32.2% Y/Y to $2.56 billion, and the margin expanded 704 bps to 52.3%.
  • EPS improved 26% Y/Y to $2.35, beating the consensus of $2.18.
  • TXN’s Cash flow from operations for the trailing 12 months totaled $9.1 billion. Free cash flow for the same period was $6.5 billion and 34% of revenue.
  • 2Q22 Outlook: Texas Instruments expects revenue of $4.20 billion to $4.80 billion, vs. a consensus of $4.94 billion, and earnings per share of $1.84 to $2.26, vs. a consensus of $2.27.
  • The company states that this outlook comprehends an impact due to reduced demand from COVID-19 restrictions in China.
  • Price Action: TXN shares are trading lower by 5.01% at $160 during the post-market session on Tuesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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