Net income increased 35% year over year to $487 million from $362 million. Earnings per share increased 38% to 44 cents from 32 cents in the same period one year earlier. Revenue rose 3% year over year to $2.983 billion from $2.885 billion, while operating profit soared 75% to $690 million from $395 million in the same period one year earlier.
For the second quarter, Texas Instruments expects revenue in the range of $3.14 billion to $3.4 billion and earnings per share between 55 cents and 63 cents. The midpoint of the revenue range would represent 7% year-over-year growth.
The stock was up more than 2.25% in after-market activity.
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Separately, TheStreet Ratings team rates TEXAS INSTRUMENTS INC as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TEXAS INSTRUMENTS INC (TXN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."