The company reported net income of $683 million, earnings per share of 62 cents and revenue of $3.29 billion. Analysts had expected earnings per share of 59 cents on revenue of $3.27 billion.
TI also issued guidance for the third quarter and said it expects EPS in the range of 66 cents to 76 cents on revenue in the range of $3.31 billion to $3.59 billion. Analysts expect earnings of 68 cents on revenue of $3.44 billion.
Must Read: Warren Buffett's 25 Favorite Stocks
The stock was down 0.67% to $48.84 at 4:40 p.m.
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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth 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."