Texas Instruments Incorporated Q2 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Q2 revenue was 4.4 billion dollars, up 9 percent sequentially and 16 percent year over year. This compares to Q1 2025 revenue of roughly 4.0 billion dollars.
  • Analog revenue grew 18 percent year over year; Embedded Processing grew 10 percent year over year; and the “Other” segment grew 14 percent year over year.
  • Management emphasized two major dynamics in the environment:
    • Tariffs and geopolitics reshaping global supply chains.
    • A continued semiconductor cyclical recovery while customer inventories remain very low.

End Market Performance

  • Industrial: Up upper teens year over year and mid-teens sequentially. Strong, broad-based recovery across all subsectors. Sequential growth was unusually high compared to normal seasonality.
  • Automotive: Up mid-single digits year over year but down low-single digits sequentially. Still not showing broad recovery. TI noted automotive peaked one year later than industrial and is recovering more slowly.
  • Personal Electronics: Up around 25 percent year over year and up upper single digits sequentially.
  • Enterprise Systems: Up about 40 percent year over year and up roughly 10 percent sequentially. Data center demand strong, above 50 percent growth, with meaningful future opportunities tied to TI’s new Sherman, Texas technologies.

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Mike Beckman: Welcome to the Texas Instruments Second Quarter 2025 Earnings Conference Call. I'm Mike Beckman, Head of Investor Relations, and I'm joined by our Chief Executive Officer, Haviv Ilan and 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, Haviv will start with a quick overview of the quarter. Next, he will provide insight into second quarter revenue results with some details of what we are seeing with respect to our end markets. Lastly, Rafael will cover financial results, give an update on capital management as well as share the guidance for third quarter 2025. With that, let me turn it over to Haviv. Haviv Ilan: Thanks, Mike. Let me start with a quick overview of the second quarter. Revenue came in about as expected at $4.4 billion, an increase of 9% sequentially and an increase of 16% ye

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