Texas Instruments Q1 Net Grows 37%

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Texas Instruments (NASDAQ: TXN  ) results for the company's Q1 have been released. For the quarter, revenue was nearly $2.89 billion, an 8% decline from the $3.12 billion in the same period the previous year. Net income moved in the other direction, advancing to $362 million ($0.32 per diluted share), or 37% over Q1 2012's $265 million ($0.22).

Analysts had expected revenue of $2.85 billion and EPS of $0.30.

Texas Instruments also provided selected forward guidance for its current Q2 and fiscal 2013. For the quarter, it expects $2.93 billion to $3.17 billion, with EPS coming in at $0.37 to $0.45. For the full year, the company believes its capital expenditures will total around $500 million, and its R&D expenses will be roughly $1.5 billion.

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