Texas Instruments GAAP EPS of $1.85 beats by $0.07, revenue of $4.38B beats by $10M
Texas Instruments press release  (NASDAQ:TXN): Q1  GAAP EPS of $1.85  beats by $0.07.
Revenue of $4.38B (-10.8% Y/Y)  beats by $10M.
Revenue decreased 6% sequentially and decreased 11% from the same quarter a year ago. During the quarter we experienced weakness across our end markets with the exception of automotive, as expected.
TI's second quarter outlook is for revenue in the range of $4.17 billion to $4.53 billion vs. $4.46B consensus and earnings per share between $1.62 and $1.88 vs. $1.87 consensus. We continue to expect our 2023 effective tax rate to be about 13% to 14%.