Texas Instruments Stock Climbs On Q2 Results, Strong Forward Guidance
Portfolio Pulse from Erica Kollmann
Texas Instruments Inc. (NASDAQ:TXN) shares rose after the company reported better-than-expected Q2 earnings and provided strong forward guidance. The company reported earnings of $1.22 per share, beating the consensus estimate of $1.17, and quarterly sales of $3.82 billion, in line with expectations. Despite declines in industrial and automotive revenues, other markets grew. The company expects Q3 revenue between $3.94 billion and $4.26 billion, above the current estimate of $3.82 billion.
July 23, 2024 | 8:24 pm
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Texas Instruments reported Q2 earnings of $1.22 per share, beating estimates, and provided strong Q3 revenue guidance. Despite declines in industrial and automotive revenues, other markets grew. The stock rose 3.91% after-hours.
The better-than-expected earnings and strong forward guidance are likely to boost investor confidence, leading to a positive short-term impact on the stock price. The after-hours price increase of 3.91% reflects this sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100