Revenue of Texas Instruments in the first quarter of 2023 was $4.38 billion, down 11% from a year earlier.

CTOnews.com, April 27 (Xinhua)-- Texas Instruments reported first-quarter financial results with operating income of $4.38 billion and net income of $1.71 billion, or $1.85 per share. Of these, earnings per share included 3 cents not covered in the company's original plan.

Haviv Ilan, President and CEO of Texas Instruments, explains Pixabay's performance and shareholder returns as follows:

Revenue fell 6% month-on-month, down 11% from the same period last year. As expected, we have seen weak demand in all end markets except cars this quarter.

"in the past 12 months, operating cash flow reached $7.7 billion, reflecting once again the advantages of the company's business model. Free cash flow reached $4.4 billion in the past year, accounting for 23% of operating revenue. this reflects our high-quality product portfolio and efficient manufacturing strategy, including the production advantage of 12-inch analog products.

"over the past 12 months, investments in R & D and sales and administrative expenses amounted to $3.5 billion, while capital expenditure investments amounted to $3.3 billion, resulting in a return of $7.5 billion to shareholders.

Texas Instruments' forecast for the second quarter of 2023 is that operating income is between $4.17 billion and $4.53 billion and earnings per share are between $1.62 and $1.88. We expect the effective tax rate to be about 13% to 14% in 2023. "