The Texas Devices headquarters in Dallas, Texas, on Jan. 21, 2024.
N. Johnson | Bloomberg | Getty Photos
Texas Devices reported second-quarter outcomes on Tuesday that beat analysts’ expectations for income and earnings. However the inventory fell in prolonged buying and selling because of a third-quarter forecast that missed estimates.
Here is how the chipmaker did versus LSEG consensus estimates:
- Earnings per share: $1.41 vs. $1.35 anticipated
- Income: $4.45 billion vs. $4.36 billion anticipated
Texas Devices stated it expects current-quarter earnings between $1.36 and $1.60 per share, whereas analysts have been on the lookout for $1.50 per share. The corporate forecast income of $4.45 billion to $4.8 billion, for a midpoint of $4.625 billion. Analysts have been anticipating income of $4.59 billion.
Income elevated 16% within the second quarter from $3.82 billion in the identical interval a yr earlier. Gross sales within the firm’s analog chip enterprise, its largest, rose 18% to $3.5 billion, surpassing the StreetAccount estimate of $3.39 billion for the section.
Internet revenue rose 15% to $1.3 billion, or $1.41 per share, from $1.13 billion, or $1.22 per share, a yr in the past.
Texas Devices is a key provider of legacy semiconductors for automotive and industrial makes use of.
As of Tuesday’s shut, Texas Devices shares have been up 15% for the yr on broader market optimism for chips. In June, the corporate stated it will spend $60 billion to develop chipmaking factories in Texas and Utah, a transfer that was praised by the Trump administration in its push to carry extra expertise manufacturing to the U.S.
