2024-04-23 18:48:07 ET
Texas Instruments Incorporated (TXN)
Q1 2024 Earnings Conference Call
April 23, 2024 04:30 PM ET
Company Participants
Dave Pahl - Head of IR
Rafael Lizardi - CFO
Conference Call Participants
Timothy Arcuri - UBS
Stacy Rasgon - Bernstein Research
Vivek Arya - Bank of America Securities
Thomas O'Malley - Barclays
Ross Seymore - Deutsche Bank
Chris Danely - Citibank
Joe Moore - Morgan Stanley
Tore Svanberg - Stifel
Chris Caso - Wolfe Research
Presentation
Dave Pahl
Welcome to the Texas Instruments First Quarter 2024 Earnings Conference Call. I'm Dave Pahl, Head of Investor Relations, and I'm joined by our Chief Financial Officer, Rafael Lizardi. For any of you who missed the release, you can find it on our website at ti.com/ir. This call is being broadcast live over the web and can be accessed through our website.
In addition, today's call is being recorded and will be available via replay on our website. This call will include forward-looking statements that involve risks and uncertainties that could cause TI's results to differ materially from management's current expectations. We encourage you to review the notice regarding forward-looking statements contained in the earnings release published today, as well as TI's most recent SEC filings, for a more complete description.
Today, we'll provide the following updates: First, I'll start with a quick overview of the quarter. Next, I will provide insight into first quarter revenue results, with some details of what we are seeing with respect to our end-markets. Lastly, Rafael will cover the financial results, give an update on capital management, as well as share the guidance for the second quarter of 2024.
Starting with a quick overview of the quarter: Revenue in the quarter came in about as expected at $3.7 billion, a decrease of 10% sequentially and 16% year-over-year. Analog revenue declined 14% year-over-year, and Embedded Processing declined 22%. Our Other segment declined 33% from the year-ago quarter....
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Texas Instruments Incorporated (TXN) Q1 2024 Earnings Call Transcript