Texas Instruments beats by $0.03, reports revs in-line; guides Q3 EPS in-line, revs in-line
Reports Q2 (Jun) GAAP earnings of $0.62 per share, $0.03 better than the Capital IQ Consensus of $0.59; revenues rose 8.0% year/year to $3.29 bln vs the $3.27 bln consensus.
Co issues in-line guidance for Q3, sees GAAP EPS of $0.66-0.76 vs. $0.68 Capital IQ Consensus; sees Q3 revs of $3.31-3.59 bln vs. $3.44 bln Capital IQ Consensus.
* "Revenue for the quarter came in just above the middle of our expected range and earnings were near the top of the range, marking another quarter of solid execution.
* "We delivered 8 percent year-over-year revenue growth, or 13 percent when legacy wireless revenue is excluded. Analog and Embedded Processing comprised 82 percent of second-quarter revenue, 4 points higher than a year ago.
* "Gross margin of 57.1% (ests ~56.3%), a new record, reflects the quality of our Analog and Embedded Processing portfolio and the efficiency of our manufacturing strategy.