Texas Instruments calls it: Auto chip sales are the only bright spot, and shares are calm
Texas Instruments Inc. shares were relatively placid in the extended session Tuesday after the analog chip maker’s earnings topped low expectations, and offered an outlook that stretched against analysts’ expectations.
Texas Instruments Inc. shares were relatively placid in the extended session Tuesday after the analog chip maker’s earnings topped low expectations, and offered an outlook that stretched against analysts’ expectations. For the fourth quarter, the company posted net income of $1.96 billion, or $2.13 a share, compared with $2.14 billion, or $2.27 a share, in the year-ago period.Analysts surveyed by FactSet had estimated earnings of $1.98 a share on revenue of $4.61 billion.Last quarter, it appeared as if auto-chip sales had become the sole growth driver in the analog chip segment, after the company focused on its long-term capacity buildout, amid a weak outlook for fourth-quarter earnings.
“As we expected, our results reflect weaker demand in all end markets, with the exception of automotive,” Templeton said.The company expects first-quarter earnings between $1.64 and $1.90 a share on revenue of $4.17 billion to $4.53 billion, while analysts surveyed by FactSet, on average, had forecast earnings of $1.86 a share on revenue of $4.41 billion. The company reported first-quarter earnings of $2.35 a share on revenue of $4.91 billion in 2022.
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