Texas Instruments (NASDAQ: NASDAQ:TXN) reported a solid earnings beat for the second quarter, with adjusted earnings per share (EPS) of $1.22, surpassing the analyst estimate of $1.16.
The company's revenue for the quarter was $3.82 billion, slightly above the consensus estimate of $3.8 billion and marking a 16% decrease from the previous year's same quarter.
The Dallas-based chipmaker's stock rose 3% following the announcement.
Looking ahead, Texas Instruments provided guidance for the third quarter, projecting revenue to be between $3.94 billion and $4.26 billion and adjusted EPS to range from $1.24 to $1.48.
The midpoint of the EPS guidance, $1.36, aligns with the analyst consensus, while the midpoint of the revenue guidance, $4.1 billion, is slightly below the consensus estimate of $4.12 billion.
The company's CEO commented on the robust business model and the strength of its product portfolio, noting, "Our cash flow from operations of $6.4 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production."