According to news on January 30, Texas Instruments has now announced its Q4 and full-year financial reports for 2022, ending its nine consecutive quarters of sequential growth.
It is reported that Texas Instruments (TI) quarterly revenue was US$4.67 billion, down 11% from the previous quarter and 3% year-on-year, with automotive and industrial accounting for 65% of total revenue; while net income dropped to US$1.96 billion.
Texas Instruments said that the automotive field is their best-performing market, but its sales growth rate is only a single-digit percentage year-on-year. According to reports, TI believes that end markets other than automobiles will continue to decline, and customers are working hard to reduce inventory.
In addition, Texas Instruments also pointed out that the analog and logic semiconductor markets will slow down. The company reported a $4.67 billion drop in fourth-quarter revenue, $1.96 billion in net income and $2.13 in earnings per share.
“Revenue was down 11% sequentially and 3% year-over-year. As we expected, our results reflected softer demand across all end markets except automotive,” said outgoing CEO Rich Templeton. Chief Operating Officer Haviv Ilan will take over as CEO in April.
Texas Instruments forecast revenue of $4.17 billion to $4.53 billion in the first quarter of 2023, with the median lower than analysts’ average forecast of $4.41 billion. In addition, earnings per share of $1.64 to $1.90, the median is also lower than analysts’ expectations of $1.87.
Found in the financial report, the company also confirmed that it is ramping up production at its 300mm fabs in Richardson, Texas, and Utah, and plans to build two more fabs in Sherman, Texas.
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Event Tracking
- 2023-02-01 Texas Instruments Q4 revenue of US$4.67 billion decreased by 3% year-on-year and decreased by 11% quarter-on-quarter
- 2021-02-24 Texas Instruments Appoints Jiang Han as Vice President and President of China Region
- 2020-01-23 Texas Instruments Q4 financial report profit fell 14%
- 2019-10-22 Texas Instruments’ third-quarter revenue was US$3.8 billion, with net profit down 9% year-on-year
- 2019-07-24 Texas Instruments’ net profit in the second quarter was US$1.305 billion, down 7% year-on-year
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