Stocks & Financial News
Breaking financial news 24/7 courtesy of TradingCharts.com Inc. / TFC Commodity Charts
Texas Instruments Stock Surges After Earnings
Apr 25, 2024 (MENAFN via COMTEX) --
(MENAFN - Baystreet) TikTok Ban Bill Passes Senate, Awaits Biden's Signature Meta Platforms' Stock Falls 13% On Disappointing Guidance AppTech Down on Eve of Planet MicroCap Show Oracle Is Moving Its Global Headquarters To Nashville Texas Instruments' Stock Rises 7% On Earnings Beat Previous Articles Subscribe to Get Small Cap News & Alerts Ambrose O'Callaghan - Thursday, April 25, 2024 Texas Instruments Stock Surges After Earnings Texas Instruments (NASDAQ:TXN) is a Dallas-based company that designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and around the world. Shares of Texas Instruments have jumped 7.71% week-over-week as of early afternoon trading on Wednesday, April 24, 2024. The stock has surged into positive value territory on the back of this post-earnings bump. Why did the company's earnings lead to this surge? Let's jump in.
This company released its first quarter fiscal 2024 earnings on Tuesday, April 23, 2024. Texas Instruments reported revenues of $3.66 billion in Q1 FY2024 - down 16% compared to $4.37 billion in the first quarter of fiscal 2023. Moreover, operating profit dropped 34% year-over-year to $1.28 billion. The company reported net income of $1.10 billion or $1.20 per share - down 35% from $1.70 billion or $1.85 per share in the prior year.
Beyond those core metrics, Texas Instruments' President and CEO Haviv Ilan added that"Over the past 12 months we invested $3.7 billion in R&D and SG&A, invested $5.3 billion in capital expenditures and returned $4.8 billion to owners." He added;"TI's second quarter outlook is for revenue in the range of $3.65 billion to $3.95 billion and earnings per share between $1.05 and $1.25. We continue to expect our effective tax rate to be about 13%."
Shares of Texas Instruments currently possess a solid price-to-earnings ratio of 27. That puts the stock in favourable value territory compared to its industry competitors. This company is well-positioned to benefit from the US push for more domestic semiconductor manufacturing. Texas Instruments is a legacy manufacturer in that space, and could see a resurgence along with US manufacturing.
This company released its first quarter fiscal 2024 earnings on Tuesday, April 23, 2024. Texas Instruments reported revenues of $3.66 billion in Q1 FY2024 - down 16% compared to $4.37 billion in the first quarter of fiscal 2023. Moreover, operating profit dropped 34% year-over-year to $1.28 billion. The company reported net income of $1.10 billion or $1.20 per share - down 35% from $1.70 billion or $1.85 per share in the prior year.
Beyond those core metrics, Texas Instruments' President and CEO Haviv Ilan added that"Over the past 12 months we invested $3.7 billion in R&D and SG&A, invested $5.3 billion in capital expenditures and returned $4.8 billion to owners." He added;"TI's second quarter outlook is for revenue in the range of $3.65 billion to $3.95 billion and earnings per share between $1.05 and $1.25. We continue to expect our effective tax rate to be about 13%."
Shares of Texas Instruments currently possess a solid price-to-earnings ratio of 27. That puts the stock in favourable value territory compared to its industry competitors. This company is well-positioned to benefit from the US push for more domestic semiconductor manufacturing. Texas Instruments is a legacy manufacturer in that space, and could see a resurgence along with US manufacturing.
- About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN25042024000212011056ID1108138392
COMTEX_451432769/2604/2024-04-25T21:33:12