Texas Instruments (TXN) Q1 Revenue Beats, Offers Q2 Guidance
Texas Instruments (NASDAQ: TXN) reported Q1 EPS of $1.24, may not compare to the analyst estimate of $1.00. Revenue for the quarter came in at $3.33 billion versus the consensus estimate of $3.17 billion.
- Earnings per share include a 10-cent benefit for items that were not in the company's original guidance.
Texas Instruments sees Q2 2020 EPS of $0.64-$1.04, versus the consensus of $0.99. Texas Instruments sees Q2 2020 revenue of $2.61-3.19 billion, versus the consensus of $3.15 billion.
- "With a COVID-19 recession likely upon us, and with reduced visibility of customer demand, we are using the 2008 financial crisis to model our second quarter outlook. To reflect the increased uncertainty, we have expanded the range of our guidance. Therefore, TI's second quarter outlook is for revenue in the range of $2.61 billion to $3.19 billion, and earnings per share between $0.64 and $1.04, which includes an estimated $10 million discrete tax benefit. We expect our annual operating tax rate to be about 14% in 2020."
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