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Texas Instruments Shares Drops 3% on Weak Q4 Results & Guidance
Jan 24, 2024 5:39 PM - Davit Kirakosyan
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Texas Instruments (NASDAQ:TXN) saw its shares drop over 3% intra-day today, following a Q4 report that fell short of analysts' revenue and guidance expectations.
The semiconductor manufacturer reported an EPS of $1.49 for the fourth quarter, a decrease from $2.13 in the same period last year. Its revenue for the quarter was $4.08 billion, representing a 13% year-over-year decline and falling below the consensus estimate of $4.13 billion.
The company's Analog segment generated $3.12 billion, down 12% year-over-year but slightly higher than the anticipated $3.07 billion. However, the embedded processing revenue was only $752 million, a 10% decrease from the previous year and significantly less than the expected $828.6 million.
Looking ahead to the current quarter, Texas Instruments set its EPS forecast between $0.96 and $1.16, markedly lower than the Street consensus of $1.42. The company's projected revenue for the quarter is between $3.45 billion and $3.75 billion, also below Wall Street's estimate of $4.09 billion.
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