By Tae Kim

Texas Instruments provided an earnings forecast for the March quarter that was below Wall Street's expectations. Its shares fell in after-hours trading.

For the December quarter, the semiconductor company reported earnings per share of $1.30, compared with Wall Street's consensus estimate of $1.21, according to FactSet. Revenue came in at $4.01 billion, which was above analysts' expectations of $3.9 billion.

Texas Instruments gave revenue forecast range for the current quarter of $3.74 billion to $4.06 billion. Using the midpoint of the range, the forecast is slightly ahead of the consensus for $3.85 billion.

But the company's earnings-per-share guidance for a range of 94 cents to $1.16 was weak, below the $1.17 estimate.

Shares of Texas Instruments initially dropped as much as 4% following the release.

On a conference call with investors and analysts, management said the auto end market in Europe, U.S. and Japan continued to be weak.

Texas Instruments sells the basic building-block chips that go into products in nearly every sector of the economy from autos and industrials to consumer electronics. The company has more than 100,000 customers.

Texas Instruments shares stock is up 15% over the last 12 months, compared with the 16% rise for the iShares Semiconductor ETF.

The chip maker is the first major semiconductor company to report December quarter results.

Write to Tae Kim at tae.kim@barrons.com

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January 23, 2025 16:49 ET (21:49 GMT)

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