Texas Instruments Q1 Profit Tops Estimate; Q2 Outlook Upbeat

(RTTNews) - Texas Instruments Inc. (TXN) reported first-quarter net income of $487 million or $0.44 per share, compared to $362 million or $0.32 per share for the year-ago quarter.

Results for the latest quarter include a gain of $37 million, which increased earnings by 2 cents per share, for sales of a site and other assets associated with previously announced restructuring actions.

Revenue for the first quarter rose 5% to $2.98 billion from $2.89 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.41 per share on revenue of $2.96 billion for the first quarter.

Looking forward to the second quarter, the company forecasts revenue of $3.14 billion to $3.40 billion and earnings per share between $0.55 and $0.63. Analysts currently expect the company to earn $0.52 per share on revenue of $3.15 billion for the second quarter.