Texas Instruments beats by $0.02, reports revs in-line; guides Q1 EPS in-line, revs below consensus:
- Reports Q4 (Dec) earnings of $0.71 per share, ex-$0.09 in items, $0.02 better than the Capital IQ Consensus of $0.69; revenues fell 2.4% year/year to $3.19 bln vs the $3.2 bln Capital IQ Consensus.
- "We experienced slowing demand within a sector of the personal electronics market late in the quarter. Our combined core businesses of Analog and Embedded Processing performed well in the quarter and comprised 87 percent of fourth-quarter revenue. Gross margin of 58.5 percent, a new record, reflects the quality of our product portfolio as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter Analog production."
- Co issues guidance for Q1, sees EPS of $0.57-0.67 vs. $0.63 Capital IQ Consensus Estimate; sees Q1 revs of $2.85-3.09 bln vs. $3.12 bln Capital IQ Consensus. This outlook includes about a $150 million decline in revenue from a year ago within a sector of the personal electronics market. Aside from this, overall expectations for the remainder of our business are about even with the first quarter of 2015.
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