Texas Instruments Faces Stock Slide and Revenue Miss in Q1 2023
Texas Instruments' stock slid in after-hours trading following the company's fourth-quarter financial results, which showed a 30.05% decrease in earnings and a 12.70% decrease in sales compared to the same period last year. The company reported quarterly earnings of $1.49 per share, slightly above analyst expectations, and quarterly sales of $4.08 billion, falling short of the analyst consensus. Texas Instruments anticipates first-quarter revenue between $3.45 billion and $3.75 billion, lower than the $4.06 billion estimate, with earnings expected to be between 96 cents and $1.16 per share. The company's president and CEO attributed the decline in revenue to increasing weakness across industrial and a sequential decline in automotive.