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:	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	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue	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)	4,076)	3,817)	3,239)	3,329)
Cost of revenue (COR)	(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)	(1,430)	(1,364)	(1,157)	(1,241)
Gross profit	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)	2,646)	2,453)	2,082)	2,088)
Research and development (R&D)	(517)	(491)	(492)	(498)	(478)	(460)	(471)	(477)	(455)	(434)	(431)	(414)	(391)	(389)	(388)	(391)	(386)	(388)	(386)	(379)	(377)
Selling, general and administrative (SG&A)	(472)	(446)	(428)	(465)	(455)	(438)	(452)	(461)	(474)	(429)	(431)	(422)	(422)	(404)	(412)	(425)	(425)	(398)	(407)	(401)	(417)
Acquisition charges	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(47)	(48)	(47)	(47)	(51)	(50)	(50)
Restructuring charges/other	—)	—)	—)	—)	124)	—)	—)	—)	—)	(48)	(77)	(66)	(66)	(54)	—)	—)	—)	—)	—)	(24)	—)
Operating profit	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)	1,813)	1,609)	1,228)	1,244)
Other income (expense), net (OI&E)	80)	112)	131)	130)	123)	113)	128)	119)	80)	51)	33)	7)	15)	9)	15)	73)	46)	162)	27)	99)	25)
Interest and debt expense	(128)	(130)	(131)	(131)	(116)	(98)	(98)	(89)	(68)	(60)	(53)	(49)	(52)	(49)	(45)	(44)	(46)	(48)	(49)	(48)	(45)
Income before income taxes	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)	1,927)	1,587)	1,279)	1,224)
Provision for income taxes	(97)	(154)	(192)	(120)	(188)	(177)	(213)	(280)	(238)	(205)	(363)	(390)	(325)	(325)	(328)	(311)	(186)	(239)	(234)	101)	(50)
Net income	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)	1,688)	1,353)	1,380)	1,174)

The financial data over the given periods reveals several key patterns and trends in operational performance and profitability. Revenue exhibited an overall upward trend from early 2020 through mid-2022, reaching a peak at that time, followed by a decline through early 2024 with some fluctuations towards the end of the observation period.

Revenue and Cost of Revenue: Revenue grew steadily from $3,329 million in March 2020 to a high of $5,241 million in September 2022 before declining to $4,069 million by March 2025. Conversely, the Cost of Revenue (COR) fluctuated but showed an overall gradual increase, slightly moderating after mid-2023. The gross profit mirrored this pattern, peaking in mid-2022 at $3,625 million before falling significantly, indicating pressure on margins likely driven by lower revenues and rising costs.
Operating Expenses: Research and Development (R&D) expenses exhibited a gradual and steady rise throughout the periods, increasing from $377 million to $517 million, reflecting continued or intensified investment in product development. Selling, General and Administrative (SG&A) expenses were relatively stable with minor fluctuations, ranging from $398 million to $474 million, without clear directional trend, suggesting maintained control over administrative costs despite revenue fluctuations.
Charges and Other Expenses: Acquisition charges were consistently recorded between $47 million and $51 million during the earlier periods but were not present in later quarters. Restructuring and other charges were intermittent, with notable spikes occurring in late 2020 and early 2021, as well as an unusual charge in mid-2024, which could indicate strategic adjustments or operational challenges during those times.
Profitability Measures: Operating profit increased substantially from $1,244 million in March 2020 to a peak of $2,723 million in June 2022, before declining sharply to $1,324 million in March 2025. Net income followed a broadly similar trajectory, rising from $1,174 million to a peak of $2,295 million, then falling to approximately $1,179 million at the most recent period. This decline in profitability aligns closely with the reduction in revenue and gross profit margins.
Other Income, Interest, and Taxation: Other income (expense), net, generally contributed modest positive amounts with occasional peaks notably in late 2020 and mid-2023, supporting overall income before taxes. Interest and debt expenses increased gradually, from $45 million to $128 million, imposing additional costs. Provision for income taxes exhibited considerable variability, with both positive and negative entries, complicating a straightforward trend but generally reflecting changing taxable income levels after adjustments and possible tax planning effects.

In summary, the analyzed data indicates a phase of revenue growth and expanding profits until mid-2022. Following this peak, there is a marked downtrend in revenue and profitability, accompanied by rising R&D investments and steady SG&A costs. Operating performance was affected by exceptional charges in specific periods and increasing interest expenses. These dynamics suggest the company encountered challenges impacting sales and margins after 2022, despite sustained investment in development activities and controlled administrative expenses.

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Texas Instruments Inc. (NASDAQ:TXN)

Income Statement Quarterly Data

Income Statement
Quarterly Data