Texas Instruments Incorporated (TI) reported financial results for the fourth quarter and full year of 2024 on January 23, 2025. Revenue for the fourth quarter was $4.01 billion, down 2% compared to the same quarter in 2023. Net income for the quarter was $1.21 billion, or $1.30 per diluted share, a decline from $1.37 billion, or $1.49 per share, in the previous year. Earnings per share included a 2-cent benefit that was not part of the company’s original guidance. Operating profit for the quarter was $1.38 billion, representing a 10% year-over-year decrease.

For the full year, revenue totaled $15.64 billion, a decline of 11% compared to 2023. Net income for the year was $4.8 billion, or $5.20 per diluted share, down from $6.51 billion, or $7.07 per share, in the prior year. Operating profit for 2024 was $5.47 billion, a 25% decrease from 2023.

TI generated $6.3 billion in cash flow from operations over the past 12 months, reflecting the strength of its business model. Free cash flow for the same period was $1.5 billion, an 11% increase from the prior year. The company invested $3.8 billion in research and development and $4.8 billion in capital expenditures, while returning $5.7 billion to shareholders through dividends and stock repurchases.

For the first quarter of 2025, TI expects revenue between $3.74 billion and $4.06 billion and earnings per share in the range of $0.94 to $1.16. The company also projects an effective tax rate of approximately 12% for 2025.

Segment results for Q4 2024 showed mixed performance:
- Analog revenue grew by 2% to $3.17 billion, while operating profit decreased by 3% to $1.24 billion.
- Embedded Processing revenue declined by 18% to $613 million, and operating profit fell by 70% to $58 million.
- The "Other" segment reported a 7% increase in revenue to $220 million, with operating profit rising 41% to $82 million.

TI emphasized its continued commitment to its business strategy, focusing on innovation, capital investments, and returns to shareholders. Despite challenges in 2024, the company highlighted the strength of its product portfolio and manufacturing capabilities.