NXP Semiconductors reported Q2 revenue in line with expectations, announced new processors and joint-venture.

From Globe Newswire.: 2024-07-22 16:10:00

NXP Semiconductors N.V. reported Q2 2024 revenue of $3.13 billion, in line with expectations. GAAP gross margin was 57.3%, operating margin was 28.7%, and diluted net income per share was $2.54. Cash flow from operations was $761 million, with $570 million returned to shareholders through dividends and share repurchases.

Key highlights include the announcement of the 5nm S32N55 processor for vehicles and collaborations with ZF and VIS. The company also plans to create a manufacturing joint-venture, VSMC, in Singapore for semiconductor wafer manufacturing. Automotive revenue decreased by 7% year-on-year, while revenue from Industrial & IoT increased by 7%.

Third quarter guidance includes total revenue of $3.15-$3.35 billion, a 1-7% increase quarter-on-quarter, with gross margin of 57.0-58.0% and operating margin of 28.8-30.9%. Non-GAAP diluted earnings per share are expected to be $3.21-$3.63. NXP utilizes non-GAAP financial measures to provide a more complete understanding of its results and factors affecting business performance.



Read more at Globe Newswire.:: NXP Semiconductors Reports Second Quarter 2024 Results