04:23 PM EDT, 04/23/2024 (MT Newswires) -- Texas Instruments ( TXN ) reported Q1 earnings late Tuesday of $1.20 per diluted share, down from $1.85 a year earlier.

Analysts polled by Capital IQ expected $1.07.

Revenue for the quarter ended March 31 was $3.66 billion, down from $4.38 billion a year earlier. Analysts surveyed by Capital IQ expected $3.61 billion.

The company said it expects Q2 EPS of between $1.05 and $1.25 on revenue ranging from $3.65 billion to $3.95 billion. Analysts in a Capital IQ poll expect EPS of $1.15 and revenue of $3.76 billion.

Shares of the company rose 5.2% in after-hours activity.