Texas Instruments (TXN) shares were down nearly 12% in recent premarket activity Wednesday after the company reported its Q2 results and issued a Q3 guidance overnight.
The company posted Q2 earnings late Tuesday of $1.41 per diluted share, up from $1.22 a year earlier.
Analysts polled by FactSet expected $1.36.
Revenue for the quarter ended June 30 was $4.45 billion, up from $3.82 billion a year earlier.
Analysts surveyed by FactSet expected $4.36 billion.
The company set Q3 EPS guidance of $1.36 to $1.60 on revenue of $4.45 billion to $4.80 billion. Analysts expected EPS of $1.51 on revenue of $4.59 billion.
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