The silicon specialist, which lowered its guidance last month, brought in revenue of $3.12 billion, down from $3.39 billion in the same period last year, but above Wall Street's estimate of $3.06 billion.
|Texas Instruments sees early signs of growth emerging.|
Texas Instruments earned 22 cents a share during the quarter, although this included a charge of 10 cents a share related to the company's acquisition of National Semiconductor and restructuring. The analyst consensus was for earnings of 29 cents a share.
"As we expected, our business cycle bottomed in the first quarter, and early signs of growth began to emerge," said Rich Templeton, Texas Instruments' CEO, in a statement released after market close. "Orders were up 13 percent, and backlog is growing again. Particularly encouraging is the breadth of increased orders across geographical regions and markets, including the industrial sector."For the second quarter, Texas Instruments expects revenue between $3.22 billion and $3.48 billion, compared to analysts' forecast of $3.29 billion. The chip maker predicted earnings of 30 to 38 cents a share, although this number will be negatively impacted by acquisition and restructuring charges totaling about 6 cents a share. Analysts surveyed by Thomson Reuters are looking for earnings of 40 cents a share. Investors responded positively to Texas Instruments' results, pushing the company's stock up $1.10, or 3.8%, to $33.10, in after hours trading on Monday. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: email@example.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV