Texas Instruments Sales, Profit Jump -- Earnings Review

By Imani Moise

Texas Instruments Inc. (TXN) reported first-quarter earnings after the closing bell Tuesday. Here's what you need to know:

REVENUE: Sales jumped 11% to $3.79 billion, driven by demand for the company's analog and embedded processing products in industrial and automotive markets. Analysts polled by Thomson Reuters had forecast $3.65 billion in revenue.

EARNINGS: Profit also topped Wall Street's views. The manufacturing company reported a profit of $1.37 billion, or $1.35 a share, up from $997 million, or 97 cents in the year earlier quarter. Consensus was for $1.11 in earnings.

OUTLOOK: The company also gave an upbeat outlook for the quarter in progress, forecasting earnings of $1.19 to $1.39 a share on up to $4.1 billion in revenue. Analysts had modeled $1.23 a share on $3.9 billion in sales.

STOCK MOVE: Shares rose 4.4% to $102.75 during extended trading. As of Tuesday's close, the stock had fallen 5.8% so far this year while the S&P 500 has dropped 1.5%.

(END) Dow Jones Newswires

April 24, 2018 18:12 ET (22:12 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.