Tiernan Ray
| July 21, 2021 — 20:42 GMT (21:42 BST)
| Topic: Hardware
Chip giant Texas Instruments, which sells into numerous markets for semiconductors, this afternoon reported Q2 revenue and profit that both topped Wall Street’s expectations, while the outlook for revenue was in line with the consensus.
The report sent Texas Instrument shares down almost 4% in late trading.
CEO Rich Templeton remarked that the company’s sales growth included 42% growth in sales of analog chips, and 43% growth in sales of embedded chips, such as microcontrollers.
Revenue in the three months ended in June rose 41%, year over year, and 7%, quarter to quarter, to $4.58 billion, yielding a net profit of $2.05 per share.
Analysts had been modeling $4.36 billion and $1.83 per share.
Despite the upside in the quarter, the amount of positive surprise relative to Wall Street’s expectations has narrowed.
The top line beat on revenue of 5% is below the average of 8.5% the last six quarters.
The twelve percent beat on the bottom line is below the average beat of 28% of the last six quarters.
For the current quarter, the company sees revenue of $4.4 billion to $4.76 billion, and EPS in a range of $1.87 to $2.13 per share. That compares to consensus for $4.6 billion and $1.97 per share.
Tech Earnings
Adobe beats Q2 expectations with growth across core clouds
Oracle beats Q4 expectations as cloud applications gain momentum
Coupa shares fall despite fiscal Q1 results
Broadcom ups fiscal Q3 outlook based on strong demand for processors
Slack tops Q1 expectations
HPE Q2 beats expectations on strong SaaS momentum
Zoom fiscal Q1 results top expectations
Cloudera to be acquired, turned private by in $5.3 billion deal
Dell Technologies rides PC sales surge to strong Q1
Related Topics:
After Hours
PCs
Servers
Storage
Networking
Data Centers
Tiernan Ray
| July 21, 2021 — 20:42 GMT (21:42 BST)
| Topic: Hardware