Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Texas Instruments Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Revenue	5,463)	4,825)	4,423)	4,742)	4,448)	4,069)	4,007)	4,151)	3,822)	3,661)	4,077)	4,532)	4,531)	4,379)	4,670)	5,241)	5,212)	4,905)	4,832)	4,643)	4,580)	4,289)
Cost of revenue (COR)	(2,111)	(2,026)	(1,951)	(2,019)	(1,873)	(1,756)	(1,693)	(1,677)	(1,611)	(1,566)	(1,646)	(1,717)	(1,621)	(1,516)	(1,583)	(1,624)	(1,587)	(1,463)	(1,482)	(1,491)	(1,503)	(1,492)
Gross profit	3,352)	2,799)	2,472)	2,723)	2,575)	2,313)	2,314)	2,474)	2,211)	2,095)	2,431)	2,815)	2,910)	2,863)	3,087)	3,617)	3,625)	3,442)	3,350)	3,152)	3,077)	2,797)
Research and development (R&D)	(535)	(510)	(521)	(518)	(527)	(517)	(491)	(492)	(498)	(478)	(460)	(471)	(477)	(455)	(434)	(431)	(414)	(391)	(389)	(388)	(391)	(386)
Selling, general and administrative (SG&A)	(490)	(464)	(446)	(457)	(485)	(472)	(446)	(428)	(465)	(455)	(438)	(452)	(461)	(474)	(429)	(431)	(422)	(422)	(404)	(412)	(425)	(425)
Acquisition charges	(17)	(17)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(47)	(48)	(47)
Restructuring charges/other	—)	—)	(32)	(85)	—)	—)	—)	—)	—)	124)	—)	—)	—)	—)	(48)	(77)	(66)	(66)	(54)	—)	—)	—)
Operating profit	2,310)	1,808)	1,473)	1,663)	1,563)	1,324)	1,377)	1,554)	1,248)	1,286)	1,533)	1,892)	1,972)	1,934)	2,176)	2,678)	2,723)	2,563)	2,503)	2,305)	2,213)	1,939)
Other income (expense), net (OI&E)	69)	47)	40)	62)	48)	80)	112)	131)	130)	123)	113)	128)	119)	80)	51)	33)	7)	15)	9)	15)	73)	46)
Interest and debt expense	(141)	(141)	(141)	(141)	(133)	(128)	(130)	(131)	(131)	(116)	(98)	(98)	(89)	(68)	(60)	(53)	(49)	(52)	(49)	(45)	(44)	(46)
Income before income taxes	2,238)	1,714)	1,372)	1,584)	1,478)	1,276)	1,359)	1,554)	1,247)	1,293)	1,548)	1,922)	2,002)	1,946)	2,167)	2,658)	2,681)	2,526)	2,463)	2,275)	2,242)	1,939)
Provision for income taxes	(258)	(169)	(209)	(220)	(183)	(97)	(154)	(192)	(120)	(188)	(177)	(213)	(280)	(238)	(205)	(363)	(390)	(325)	(325)	(328)	(311)	(186)
Net income	1,980)	1,545)	1,163)	1,364)	1,295)	1,179)	1,205)	1,362)	1,127)	1,105)	1,371)	1,709)	1,722)	1,708)	1,962)	2,295)	2,291)	2,201)	2,138)	1,947)	1,931)	1,753)

The financial performance over the analyzed period exhibits a cyclical pattern characterized by an initial growth phase, a significant contraction, and a subsequent recovery. Revenue grew steadily from March 2021, peaking in September 2022 at 5,241 million USD, before entering a downward trajectory that reached its lowest point in March 2024 at 3,661 million USD. A recovery trend followed, with revenue expanding to a period high of 5,463 million USD by June 2026.

Gross Profitability and Cost Management: Gross profit mirrored the fluctuations in revenue, peaking in June 2022 at 3,625 million USD. However, the cost of revenue increased proportionally during the recovery phase. While the cost of revenue remained relatively stable around 1,500 million USD during the initial growth period, it escalated to 2,111 million USD by June 2026, indicating a rise in production costs or a shift in product mix that affected the cost structure.
Operating Expense Trends: Research and development (R&D) expenses demonstrated a consistent upward trend, regardless of revenue volatility. Spending increased from 386 million USD in March 2021 to 535 million USD in June 2026, suggesting a strategic commitment to long-term innovation. Selling, general and administrative (SG&A) expenses remained more stable but experienced a gradual increase, rising from 425 million USD to 490 million USD over the same period.
Operating and Net Income Volatility: Operating profit experienced significant variance, reaching 2,723 million USD in June 2022 before dropping to a low of 1,248 million USD in June 2024. The subsequent recovery led to an operating profit of 2,310 million USD by June 2026. Net income followed a similar trajectory, with a peak of 2,295 million USD in September 2022 and a trough of 1,105 million USD in March 2024, eventually recovering to 1,980 million USD by the end of the series.
Financial Obligations and Other Income: A marked increase in interest and debt expense is observed, rising from 46 million USD in March 2021 to a sustained 141 million USD from September 2025 through June 2026. This indicates an increase in the company's debt load or a higher interest rate environment. Other income remained positive throughout the period, providing a modest buffer to the pre-tax income, although it fluctuated between 7 million USD and 131 million USD per quarter.
Non-Recurring Charges: The financial statements show intermittent impacts from non-recurring items. Restructuring charges were prevalent between December 2021 and September 2022, and again in September 2025. Additionally, acquisition charges reappeared in the first half of 2026, totaling 34 million USD across two quarters, which slightly dampened the operating results during the recovery phase.

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Texas Instruments Inc. (NASDAQ:TXN)

Income StatementQuarterly Data

Income Statement
Quarterly Data