Texas Instruments gains on Q2 beats, upside outlook
Jul. 21, 2020 4:22 PM ETTexas Instruments Incorporated (TXN)TXN, ADIBy: Brandy Betz, SA News Editor10 Comments
- The pandemic hit semi bellwether Texas Instruments' (NASDAQ:TXN) Q2 results with revenue down 12% Y/Y, driven primarily by weakness in the automotive market.
- But the company still beat top and bottom line estimates for the quarter, which ended on June 30.
- Analog revenue fell 4% Y/Y to $2.4B (consensus: $2.95B). Embedded Processing sales slid 31% to $546M (consensus: $578.3M).
- Analog and Embedded Processing revenue grew on the quarter, ex-automotive.
- Cash flow from operations (TTM) fell 12% Y/Y to $1.7B with FCF of $1.6B. TXN's dividends over the same period represented 56% of FCF.
- For Q3, TXN sees $3.26-3.54 B in revenue (consensus $3.1B) and $1.14-1.34 EPS (consensus: $0.99).
- Earnings call starts at 4;30 PM with a webcast here.
- Press release.
- TXN shares are up 2.7% AH and peer Analog Devices (NASDAQ:ADI) is up 0.8%.