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:	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	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)	(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	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)	(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)	(446)	(457)	(485)	(472)	(446)	(428)	(465)	(455)	(438)	(452)	(461)	(474)	(429)	(431)	(422)	(422)	(404)	(412)	(425)	(425)
Acquisition charges	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(47)	(48)	(47)
Restructuring charges/other	(32)	(85)	—)	—)	—)	—)	—)	124)	—)	—)	—)	—)	(48)	(77)	(66)	(66)	(54)	—)	—)	—)
Operating profit	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)	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)	(133)	(128)	(130)	(131)	(131)	(116)	(98)	(98)	(89)	(68)	(60)	(53)	(49)	(52)	(49)	(45)	(44)	(46)
Income before income taxes	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	(209)	(220)	(183)	(97)	(154)	(192)	(120)	(188)	(177)	(213)	(280)	(238)	(205)	(363)	(390)	(325)	(325)	(328)	(311)	(186)
Net income	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 presented demonstrates a period of initial growth followed by a significant deceleration and eventual decline in key metrics. Revenue exhibited growth from the first quarter of 2021 through the second quarter of 2022, peaking at US$5.212 billion, before entering a consistent decline. This trend is mirrored in the company’s profitability metrics.

Revenue Trend: Revenue increased steadily from US$4.289 billion in March 2021 to US$5.212 billion in June 2022. However, a clear downward trend commenced in the latter half of 2022, continuing through 2023 and into the first half of 2024, reaching US$3.661 billion in March 2024. A slight recovery is observed in the latter half of 2024 and into the first half of 2025, but revenue remains below the peak levels achieved in 2022. The projected revenue for June 2025 is US$4.448 billion.
Gross Profit and Cost of Revenue: Gross profit generally followed the revenue trend, increasing to US$3.625 billion in June 2022 before declining. Simultaneously, the cost of revenue increased consistently throughout the period, accelerating in 2023 and 2024. This increase in cost of revenue, from US$1.492 billion in March 2021 to US$2.019 billion in September 2025, significantly contributed to the decline in gross profit. The gross margin appears to be contracting over time.
Operating Profit: Operating profit mirrored the trends in revenue and gross profit, peaking at US$2.723 billion in June 2022 and then declining substantially to US$1.286 billion in March 2024. While there is some recovery in 2024 and 2025, operating profit remains considerably lower than its peak. The decline is attributable to both decreasing revenue and increasing operating expenses.
Operating Expenses: Research and development (R&D) expenses have shown a consistent upward trend, increasing from US$386 million in March 2021 to US$521 million in December 2025. Selling, general, and administrative (SG&A) expenses also increased over the period, though with some fluctuations. The combined effect of these increasing expenses contributed to the decline in operating profit. Acquisition and restructuring charges were present in earlier periods but diminished over time.
Net Income and Taxes: Net income followed the pattern of operating profit, peaking at US$2.291 billion in June 2022 and declining to US$1.163 billion by December 2025. The provision for income taxes fluctuated, with higher amounts corresponding to periods of higher income. The effective tax rate appears to vary, impacting the final net income figures.
Interest Expense: Interest and debt expense exhibited a steady increase throughout the observed period, rising from US$46 million in March 2021 to US$141 million in December 2025. This increase in interest expense further contributed to the decline in net income.

In summary, the financial performance indicates a shift from a period of growth to a period of contraction. Increasing costs, particularly cost of revenue and interest expense, coupled with declining revenue, have significantly impacted profitability. While there is a modest recovery observed in the latter part of the period, the overall trend suggests a challenging operating environment.

Download chart

Texas Instruments Inc. (NASDAQ:TXN)

Income Statement Quarterly Data

Income Statement
Quarterly Data