Texas Instruments (TXN) Q1 2023 earnings results slightly beat EPS expectations
Texas Instruments also released an adjusted outlook for its upcoming Q2 2023 expectations.
As we continue through various major tech companies reporting on their latest fiscal quarters, Texas Instruments is one of the latest companies up on the block. The scientific electronics and semiconductor company has posted its latest quarterly results for its fiscal Q1 2023, and they came out mostly satisfactory. Texas Instruments showed up just slightly short on revenue, but its earnings per share (EPS) beat out Wall Street estimates.
Texas Instruments reported on its Q1 2023 earnings results via its investor relations website on April 25, 2023. The company was pretty close to its expectations on most fronts, for better or worse throughout Q1. It put up an actual revenue of $4.38 billion USD for the quarter, coming up shy against Wall Street estimates of $4.4 billion. Meanwhile, its actual EPS numbers came out to $1.85 per share. This was above the Wall Street consensus of $1.78 per share, but less than the Whisper Number consensus, which came out to $1.87 per share. In its major metrics, Texas Instruments was mostly in line with what was expected, give or take.
Perhaps just as notable is the guidance Texas Instruments provided for its outlook on its Q2 2023 fiscal quarter. Originally, outlook for Q2 for Texas Instruments were set at $4.4 billion in revenue, and EPS was set at $1.82 per share. New guidance has set revenue in a new range with a midpoint of $4.35 billion. Meanwhile, the EPS was adjusted to a range with a midpoint of $1.75 per share.
Texas Instruments, like many companies specializing in semiconductors, seems to be taking a hit on its business right now, but remains active and competitive nonetheless. Stay tuned as we continue to report on tech company quarterly finishes.
TJ Denzer posted a new article, Texas Instruments (TXN) Q1 2023 earnings results slightly beat EPS expectations