Texas Instruments Q4 revenue of $4.67 billion fell 3% year on year and 11% month on month.

Thanks to CTOnews.com netizen OC_Formula for the clue delivery! CTOnews.com January 30 news, Texas Instruments has now released 2022 Q4 and full-year results, ending its nine consecutive quarters of month-on-month growth.

It is reported that Texas Instruments (TI) quarterly revenue of $4.67 billion, down 11% from the previous month, down 3% from a year earlier, of which automobiles and industries accounted for 65% of total revenue, while net income fell to $1.96 billion.

Texas Instruments says the automotive sector is its best-performing market, but its sales are growing by only single digits year-on-year. According to reports, TI believes that except for cars, the end market will continue to decline, and customers are trying to reduce inventory.

In addition, Texas Instruments also pointed out that the analog and logic semiconductor market will slow. The company reported a decrease in fourth-quarter revenue of $4.67 billion, net income of $1.96 billion, and earnings per share of $2.13.

"revenues are down 11 per cent from the previous month and 3 per cent from the same period last year. As we expected, our results reflect weak demand in all end markets except cars," said Rich Templeton, the outgoing chief executive. Haviv Ilan, chief operating officer, will take over as CEO in April.

Texas Instruments forecasts revenue of $4.17 billion to $4.53 billion in the first quarter of 2023, below the average analyst estimate of $4.41 billion. In addition, earnings per share were between $1.64 and $1.90, with a median below analysts' expectations of $1.87.

CTOnews.com also confirmed that it is increasing production at 300mm fab plants in Richardson, Texas and Utah, and plans to build two more fabs in Sherman, Texas, the company found in its earnings report.

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