Texas Instruments GAAP EPS of $2.13 beats by $0.15, revenue of $4.67B beats by $40M
Texas Instruments press release (NASDAQ:TXN): Q4 GAAP EPS of $2.13  beats by $0.15.
Revenue of $4.67B (-3.3% Y/Y)  beats by $40M.
Our cash flow from operations of $8.7 billion for the year again underscored the strength of our business model. Free cash flow for the year was $5.9 billion and 30% of revenue. This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-mm production.

Over the past 12 months we invested $3.4 billion in R&D and SG&A, invested $2.8 billion in capital expenditures and returned $7.9 billion to owners.
TI's first quarter outlook is for revenue in the range of $4.17 billion to $4.53 billion vs. consensus of $4.42B and earnings per share between $1.64 and $1.90 vs. consensus of $1.87. We now expect our 2023 annual effective tax rate to be about 13% to 14%.