Texas Instruments Incorporated (TXN) Q1 2023 Earnings Call Transcript

Texas Devices Integrated (NASDAQ:TXN) Q1 2023 Earnings Convention Name April 25, 2023 4:30 PM ET

Firm Members

Dave Pahl – Vice President, Investor Relations

Rafael Lizardi – Senior Vice President and Chief Monetary Officer

Convention Name Members

Stacy Rasgon – Bernstein Analysis

Vivek Arya – Financial institution of America Securities

Timothy Arcuri – UBS

Ambrish Srivastava – BMO Capital Markets

Ross Seymore – Deutsche Financial institution

Christopher Danely – Citi

Joseph Moore – Morgan Stanley

C.J. Muse – Evercore ISI

Dave Pahl

Welcome to the Texas Devices’ First Quarter 2023 Earnings Convention Name. I am Dave Pahl, Head of Investor Relations, and I am joined by our Chief Monetary Officer, Rafael Lizardi. For any of you who missed the discharge, yow will discover it on our web site at ti.com/ir. This name is being broadcast dwell over the net and might be accessed via our web site. As well as, as we speak’s name is being recorded and will likely be accessible by way of replay on our web site.

This name will embrace forward-looking statements that contain dangers and uncertainties that might trigger TI’s outcomes to vary materially from administration’s present expectations. We encourage you to evaluate the discover concerning forward-looking statements contained within the earnings launch printed as we speak, in addition to TI’s most up-to-date SEC filings for a extra full description.

At the moment, we’ll present the next updates. First, I will begin with a fast overview of the quarter. Subsequent, I will present some perception into first quarter’s income outcomes with some particulars of what we’re seeing with respect to our finish markets. Lastly, Rafael will cowl the monetary outcomes and our steerage for the second quarter of 2023.

Beginning with a fast overview of the primary quarter. Income within the quarter got here in about as anticipated at $4.4 billion, a lower of 6% sequentially and 11% year-over-year. Analog income declined, 14%, embedded processing grew 6% and our different phase declined 16% from the