Texas Instruments (TXN) Slightly Lower as Q3 Outlook Disappoints
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Price: $264.36 -0.47%
Financial Fact:
Provision for income taxes: 413M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Provision for income taxes: 413M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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In this afternoon's after-hours trading session, shares of Texas Instruments (NYSE: TXN) are trading modestly lower following the chip makers Q2 results. The stock most recently traded at $23.38, down about 1% from today's closing price.
TI reported a 55% drop in Q2 profit, posting EPS of $0.20. Sales for the quarter came in at $2.457 billion, down 26.7% from the $3.35 billion reported in Q208. Although the results were down from the comparable quarter last year, Texas Instruments beat the Street's estimates on both EPS and sales.
The company also noted that during the quarter, it continued to reduce inventory, this time by about 10%. Further, orders fell 19% from the same quarter last year to $2.8 billion and capex came in at $47 million, down from $271 million in Q208, but up from the $43 million reported in Q109.
Turning to the company's Q3 outlook -- probably the reason the stock is moving lower, TI sees EPS of $0.29-$0.39 on sales of $2.5-$2.8 billion. The Street is currently looking for Q3 EPS of $0.27 on sales of $2.52 billion.
UPDATE: Click here to see some highlights from the company's Q2 conference call.
TI reported a 55% drop in Q2 profit, posting EPS of $0.20. Sales for the quarter came in at $2.457 billion, down 26.7% from the $3.35 billion reported in Q208. Although the results were down from the comparable quarter last year, Texas Instruments beat the Street's estimates on both EPS and sales.
The company also noted that during the quarter, it continued to reduce inventory, this time by about 10%. Further, orders fell 19% from the same quarter last year to $2.8 billion and capex came in at $47 million, down from $271 million in Q208, but up from the $43 million reported in Q109.
Turning to the company's Q3 outlook -- probably the reason the stock is moving lower, TI sees EPS of $0.29-$0.39 on sales of $2.5-$2.8 billion. The Street is currently looking for Q3 EPS of $0.27 on sales of $2.52 billion.
UPDATE: Click here to see some highlights from the company's Q2 conference call.
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