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![Texas Instruments Inc [TXN] reports annual net loss of $6.5 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FTXN.png&w=1200&q=75)
TEXAS INSTRUMENTS INC [TXN] has reported a net loss of $6.5 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $17.5 billion
Based in Dallas, Texas, TEXAS INSTRUMENTS INC operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, the revenue of the company amounted to $17.52 million, reflecting a decrease from the previous year's revenue of $20.03 million in the same period. This decrease is primarily attributed to lower sales volumes or pricing adjustments.
The cost of revenue (COR) for the current reporting period was $6.50 million, compared to $6.26 million in the previous year. This resulted in a gross profit of $11.02 million for the current period, down from $13.77 million in the previous year.
Operating profit for the 12 months ended December 31, 2023, was $7.33 million, a decrease from $10.14 million in the same period of the previous year. This decline is mainly due to higher research and development expenses, as well as selling, general, and administrative costs.
The net income for the current reporting period was $6.51 million, lower than the previous year's net income of $8.75 million. This decrease in net income can be attributed to higher operating costs and lower revenue.
Earnings per common share (EPS) for the current period were $7.13 for basic and $7.07 for diluted EPS. In comparison, the EPS for the previous year were $9.51 for basic and $9.41 for diluted EPS.
Overall, the company experienced a decrease in revenue, gross profit, operating profit, and net income in the 12 months ended December 31, 2023, compared to the same period in the previous year. This may raise concerns among investors and stakeholders regarding the company's financial performance and operational efficiency.
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