NXP Semiconductors (NXPI) Posts Beat and Raise Q2 Earnings

NXP Semiconductors (NASDAQ: NXPI) reported its Q2 Non-GAAP earnings of $3.55 per share, versus the consensus estimate of $3.39. Revenue grew 28% year-over-year to $3.31 billion, compared to the consensus estimate of $3.27 billion.

“NXP delivered quarterly revenue of $3.31 billion, an increase of 28 percent year-on-year and above the mid-point of our guidance range. Notwithstanding the clear macro-economic cross currents, NXP continues to perform well. Customer demand within the Auto and Industrial & IoT end-markets continues to exceed our incrementally improving supply, even as we risk-adjust our long term orders. New design win commitments are remarkably strong across our focus end-markets, which underpins confidence that our investments are well aligned with the long-term market requirements,” said Kurt Sievers, NXP President and CEO.

The company provided its Q3/22 guidance, expecting revenue in the range of $3.35-3.5 billion, compared to the consensus estimate of $3.33 billion.

Shares of NXPI last traded down 1.7% after-hours Monday.

By Davit Kirakosyan

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