Texas Instruments Incorporated (NASDAQ:TXN) shares are trading lower in Tuesday’s after-hours session on the heels of the company’s second-quarter report. Here’s a rundown of the results and a look at what’s driving the action.
What Happened: The company reported quarterly earnings of $1.87 per share, a 23.67% decrease over earnings of $2.45 per share from the same period last year. It reported quarterly sales of $4.53 billion, which beat the analyst consensus estimate of $4.37 billion, a 13.07% decrease over sales of $5.21 billion in the same period last year.
Texas Instruments expects third-quarter revenue between $4.36 billion and $4.74 billion, versus the consensus estimate of $4.60 billion. Furthermore, the company estimates earnings per share between $1.68 and $1.92, versus the consensus estimate of $1.91.
Haviv Ilan, TI’s president and CEO, among other things, acknowledged cash flow metrics, saying, “Our cash flow from operations of $7.4 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300-mm production. Free cash flow for the same period was $3.2 billion and 17% of revenue.”
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TXN Price Action: TXN shares were down 2.43% after hours at $181.55 at the time of publication, according to Benzinga Pro.
Image by Dan Williams from Pixabay
