Texas Instruments Earnings, Revenue Beat in Q2

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Investing.com – Chipmaker Texas Instruments (NASDAQ:TXN) on Tuesday reported second-quarter earnings that topped analysts’ expectations.

Texas Instruments shares gained 3.3% in after-hours trade following the report.

Texas Instruments announced earnings per share of $1.15 on revenue of $3.24B. Analysts polled by Investing.com anticipated EPS of $0.87 on revenue of $2.94B.

Texas Instruments shares are up 5% from the beginning of the year, still down 1.43% from its 52 week high of $137.50 set on July 21. They are outperforming the S&P Global (NYSE:SPGI) 100 which is up 3.23% from the start of the year.

Revenue decreased 12% from the same quarter a year ago, driven by weakness in the automotive market, the company said.

Analog revenue, which makes up the bulk of overall revenue, declined 4%, while embedded processing slipped 31%

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar