Net income
dropped 14% year-over-year to $1.07 billion while EPS fell 12% to $1.12. Adjusted
EPS amounted to $1.11. Analysts had forecast EPS of $1.01.
During the
quarter, the company saw revenue decreases across all its segments. Revenue in
Analog fell 5% hurt by declines in Signal Chain, High Volume and Power. In
Embedded Processing, revenue fell 20% mainly due to Processors. In the Other
segment, revenue fell 24%.
For the first quarter of 2020, Texas Instruments expects revenue in the range of $3.12 billion to $3.38 billion, and EPS to be between $0.96 and $1.14, which includes an estimated $20 million discrete tax benefit.
Over the past one year, the stock has gained over 39% and over the past three months, it has gained 12%.
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