Shares of Texas Instruments (NASDAQ:TXN) jumped 5% in after-hours trading Tuesday after the semiconductor company posted better-than-expected earnings and revenue for the fiscal Q1 2024.
The chipmaker reported earnings per share (EPS) of $1.20, topping the consensus estimates of $1.07. Revenue for the quarter also beat projections, reaching $3.66 billion against a consensus estimate of $3.61 billion.
Looking ahead to the second quarter of 2024, Texas Instruments expects EPS to be between $1.05 and $1.25, compared to the analyst estimates of $1.16. The company expects revenue to fall between $3.65 billion and $3.95 billion, compared to market expectations of $3.77 billion.