Texas Instruments Inc (NASDAQ:TXN) reported second-quarter results after the market close on Wednesday. Here’s what you need to know from the print.
- Where is TXN stock headed?
Texas Instruments Q2 Key Details
Texas Instruments reported second-quarter revenue of $5.46 billion, beating analyst estimates of $5.25 billion. The semiconductor company posted second-quarter earnings of $2.14 per share, beating analyst estimates of $1.92 per share, according to Benzinga Pro.
Total revenue was up 23% year-over-year, led by growth in industrial, data center and automotive. Texas Instruments reported $8.7 billion in cash flow from operations over the trailing 12 months, and $6.5 billion of free cash flow over the same period.
“Our cash flow from operations of $8.7 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production,” said Haviv Ilan, chairman, president and CEO of Texas Instruments.
The company ended the quarter with approximately $3.66 billion in total cash and cash equivalents.
Texas Instruments expects third-quarter revenue to be in the range of $5.65 billion to $6.15 billion versus estimates of $5.61 billion. The company anticipates third-quarter earnings of $2.23 to $2.57 per share versus estimates of $2.15 per share.
Texas Instruments executives are currently discussing the quarter on an earnings call that started at 4:30 p.m. ET.
TXN Shares Lose Steam After Hours
TXN Price Action: Texas Instruments shares were down 3.45% in after-hours Wednesday, trading at $284.04 at the time of publication, per Benzinga Pro. The stock had gained over 65% year-to-date heading into the print.
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