Texas Instruments Inc (NASDAQ:TXN) posted first-quarter financial results after the market close on Wednesday. Here’s a look at the key details from the print.
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Texas Instruments Q1 Highlights
Texas Instruments reported first-quarter revenue of $4.83 billion, beating analyst estimates of $4.53 billion. The company reported first-quarter earnings of $1.68 per share, beating analyst estimates of $1.37 per share, according to Benzinga Pro.
Texas Instruments noted that earnings per share included a five-cent benefit that was not in the company’s original guidance.
Total revenue was up 19% year-over-year, led by growth in industrial and data center. Texas Instruments reported $7.8 billion in cash flow from operations over the trailing 12 months, and $4.4 billion of free cash flow over the same period.
“Our cash flow from operations of $7.8 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 $3.55 billion in total cash and cash equivalents.
Texas Instruments expects second-quarter revenue to be in the range of $5 billion to $5.40 billion versus estimates of $4.86 billion. The company anticipates second-quarter earnings of $1.77 to $2.05 per share versus estimates of $1.57 per share.
Texas Instruments executives will discuss the quarter on an earnings call with investors and analysts at 4:30 p.m. ET.
TXN Shares Jump After Hours
TXN Price Action: Texas Instruments shares were up 7.25% in after-hours Wednesday, trading at $253.44 at the time of publication, per Benzinga Pro.
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