Netherlands' NXP Semiconductors Q3 revenue rises 19%, slightly beats estimates
NXPI•NXP Semiconductors' third-quarter revenue rose 19% year over year to $3.79 billion, slightly above the $3.76 billion consensus, while adjusted EPS of $4.20 beat estimates. The company authorized a new $5 billion share repurchase program and forecast fourth-quarter revenue of $3.75 billion to $3.95 billion.
1. Quarterly results
NXP Semiconductors reported third-quarter revenue of $3.79 billion, up 19% year over year and slightly above the $3.76 billion analyst consensus. Adjusted EPS was $4.20, compared with estimates of $4.09; EPS was $3.48 and adjusted gross margin was 58.6%.
2. Fourth-quarter outlook
The company forecast fourth-quarter revenue of $3.75 billion to $3.95 billion, non-GAAP gross margin of 58.5% to 59.5%, and non-GAAP diluted EPS of $4.14 to $4.58. It also authorized a new $5 billion share repurchase program.
3. Growth drivers
NXP said accelerating growth in automotive and industrial segments and continued momentum in data center infrastructure contributed to its third-quarter performance. It said strong profitability and free cash flow enabled investments in innovation and manufacturing expansion.
