Name: Texas Instruments Inc. (NASDAQ:TXN) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

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.

Download chart

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

US$ in millions

3 months ended:	Sep 30, 2026	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	6,055)	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)	(2,168)	(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	3,887)	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)	(530)	(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)	(476)	(490)	(464)	(446)	(457)	(485)	(472)	(446)	(428)	(465)	(455)	(438)	(452)	(461)	(474)	(429)	(431)	(422)	(422)	(404)	(412)	(425)	(425)
Acquisition charges	(7)	(17)	(17)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(47)	(48)	(47)
Restructuring charges/other	—)	—)	—)	(32)	(85)	—)	—)	—)	—)	—)	124)	—)	—)	—)	—)	(48)	(77)	(66)	(66)	(54)	—)	—)	—)
Operating profit	2,874)	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)	72)	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)	(141)	(133)	(128)	(130)	(131)	(131)	(116)	(98)	(98)	(89)	(68)	(60)	(53)	(49)	(52)	(49)	(45)	(44)	(46)
Income before income taxes	2,805)	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	(380)	(258)	(169)	(209)	(220)	(183)	(97)	(154)	(192)	(120)	(188)	(177)	(213)	(280)	(238)	(205)	(363)	(390)	(325)	(325)	(328)	(311)	(186)
Net income	2,425)	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)

Financial performance over the analyzed period is characterized by a distinct cyclical pattern, marked by a period of growth through 2022, a significant contraction between 2023 and early 2024, and a subsequent strong recovery leading into late 2026. Revenue peaked in September 2022 at 5,241 million US dollars before declining to a low of 3,661 million US dollars in March 2024. A robust upward trajectory followed, with revenue reaching 6,055 million US dollars by September 2026.

Revenue and Gross Margin Trends: Gross profit exhibits a high correlation with revenue fluctuations. During the peak revenue period of 2021-2022, gross profit reached heights of 3,625 million US dollars. As revenue declined throughout 2023 and early 2024, gross profit contracted to a minimum of 2,095 million US dollars. The recovery phase shows a significant expansion in gross profit, ending at 3,887 million US dollars in September 2026, suggesting that the company regained pricing power or benefited from increased volume during this interval.
Operating Expense Management: Operating expenses demonstrate a steady upward trend, largely decoupled from short-term revenue volatility. Research and development (R&D) expenses grew consistently from 386 million US dollars in March 2021 to 530 million US dollars by September 2026, indicating a sustained commitment to long-term product development despite quarterly revenue dips. Selling, general, and administrative (SG&A) expenses remained relatively stable, generally fluctuating between 400 million and 490 million US dollars, reflecting disciplined overhead control.
Operating Profitability and Margins: Operating profit experienced significant volatility, mirroring the revenue cycle. A peak of 2,723 million US dollars was recorded in June 2022, followed by a trough of 1,248 million US dollars in June 2024. The subsequent recovery was sharp, with operating profit climbing to 2,874 million US dollars by September 2026. This indicates that while fixed costs remained relatively stable, the operating leverage significantly amplified the impact of revenue recovery on the bottom line.
Interest and Non-Operating Items: A notable increase in interest and debt expenses is observed. Expenses rose from approximately 45 million US dollars per quarter in 2021 to a consistent level of 141 million US dollars from 2022 through 2026. This suggests an increase in the company's debt load or a rise in the cost of borrowing. Other income (OI&E) provided a modest but inconsistent buffer, peaking at 131 million US dollars in September 2024.
Net Income Trajectory: Net income followed the overall trend of operating profit, peaking at 2,295 million US dollars in September 2022 and hitting a low of 1,105 million US dollars in March 2024. The period concludes with a strong acceleration in profitability, with net income rising to 2,425 million US dollars by September 2026. This recovery was supported by both increased operational efficiency and a stabilization of tax provisions relative to income growth.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Texas Instruments Inc. (NASDAQ:TXN)

Income StatementQuarterly Data

Income Statement
Quarterly Data