NXP Semiconductors N.V. (NASDAQ:NXPI) reported its first-quarter financial results after the bell Monday. Here’s a look at the highlights.Â
The Details:
NXP Semiconductors reported quarterly earnings of $3.24 per share which beat the analyst consensus estimate of $3.16 by 2.53%.
Quarterly sales came in at $3.13 billion which beat the analyst consensus estimate of $3.127 billion by 0.11% and represents a 0.29% increase over sales of $3.121 billion from the same period last year.
Cash flow from operations was $851 million, with net capex investments of $224 million, resulting in non-GAAP free cash flow of $627 million for the quarter.
“NXP delivered quarterly revenue of $3.13 billion, in-line with the midpoint of guidance with all our focus end-markets performing as expected. Our first-quarter results, guidance for the second quarter, and our early views into the second half of the year underpin a cautious optimism that NXP is successfully navigating through this industry-wide cyclical downturn. We continue to manage what is in our control enabling NXP to drive solid profitability and earnings in a challenging demand environment,” said Kurt Sievers, NXP President and CEO.
NXP Semiconductors will host a conference call at 8:00 a.m. ET Tuesday to discuss the results.
Outlook:
NXP sees second-quarter adjusted earnings of between $3.00 and $3.41per share, versus the $3.11 per share estimate and total revenue in a range of $3.025B billion to $3.225 billion, versus the $3.13 billion estimate.
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NXPI Price Action: According to Benzinga Pro, NXP shares are up 5.61% after-hours at $261.00 at the time of publication Monday.
Image: Courtesy of NXP Semiconductors N.V.
