Texas Instruments (NASDAQ: NASDAQ:TXN) reported a solid earnings beat for the second quarter, with adjusted earnings per share (EPS) of $1.22, surpassing the analyst estimate of $1.16.
The company's revenue for the quarter was $3.82 billion, slightly above the consensus estimate of $3.8 billion and marking a 16% decrease from the previous year's same quarter.
The Dallas-based chipmaker's stock rose 3% following the announcement.
Looking ahead, Texas Instruments provided guidance for the third quarter, projecting revenue to be between $3.94 billion and $4.26 billion and adjusted EPS to range from $1.24 to $1.48.
The midpoint of the EPS guidance, $1.36, aligns with the analyst consensus, while the midpoint of the revenue guidance, $4.1 billion, is slightly below the consensus estimate of $4.12 billion.
The company's CEO commented on the robust business model and the strength of its product portfolio, noting, "Our cash flow from operations of $6.4 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."
This content was originally published on Investing.com
