Summary by Moomoo AI
Texas Instruments reported Q2 2024 revenue of $3.82 billion, down 16% year-over-year, with net income of $1.13 billion and EPS of $1.22. The decline was primarily due to lower revenue from Analog and Embedded Processing segments. Gross profit margin decreased to 57.8% from 64.2% a year ago, mainly due to lower revenue and higher manufacturing costs.Operating profit was $1.25 billion, or 32.7% of revenue, compared to $1.97 billion, or 43.5% of revenue in Q2 2023. The Analog segment saw an 11% revenue decline to $2.93 billion, while Embedded Processing revenue fell 31% to $615 million. Cash flow from operations for the trailing 12 months was $6.4 billion.TI continued to invest in strengthening its competitive advantages, with capital expenditures of $2.31 billion in the first half of 2024. The company received a $312 million cash benefit from the U.S. CHIPS and Science Act investment tax credit. Despite the revenue decline, TI maintained its focus on long-term free cash flow per share growth and returned $4.9 billion to shareholders over the past 12 months.
