Wed, Jul 24, 1:31 PM (45 days ago)
Texas Instruments Inc. (TI) reported a decline in financial performance for Q2 2024 compared to Q2 2023. Revenue decreased by 16% to $3.82 billion, mainly due to lower sales in the Analog and Embedded Processing segments. Gross profit fell by 24% to $2.21 billion, impacted by reduced revenue and higher manufacturing costs. Net income dropped to $1.13 billion from $1.72 billion, and EPS decreased to $1.22 from $1.87. Operating expenses rose slightly to $963 million, while operating profit declined to $1.25 billion. Cash flow from operations for the trailing 12 months was $6.4 billion. TI invested $3.7 billion in R&D and SG&A, $5.0 billion in capital expenditures, and returned $4.9 billion to shareholders. The company also issued $3.0 billion in new debt. Despite the downturn, TI's strong cash position and strategic investments in manufacturing and technology are expected to support future growth.