Texas Instruments misses by $0.01, reports revs in-line; guides Q3 below consensus
Reports Q2 (Jun) earnings of $0.65 per share, $0.01 worse than the Capital IQ Consensus of $0.66 vs. $0.60-0.70 guidance; revenues fell 1.8% year/year to $3.23 bln vs the $3.26 bln consensus and $3.12-3.38 bln guidance, inclusive of notably weak demand in communications equipment and continued strong demand in automotive.
Co issues downside guidance for Q3, sees EPS of $0.62-0.72 vs. $0.74 Capital IQ Consensus Estimate; sees Q3 revs of $3.15-3.41 bln vs. $3.45 bln Capital IQ Consensus Estimate.
"our core businesses of Analog and Embedded Processing, together, grew slightly year over year and comprised 85 percent of second-quarter revenue. Analog delivered its eighth consecutive quarter of year-over-year growth. "Gross margin of 58.2 percent was up 1 percentage point from a year ago, reflecting the diversity and longevity of our product portfolio, as well as the efficiency of our manufacturing strategy.