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NXP Semiconductors N.V. (NASDAQ:NXPI) shares are trading higher in extended trading Monday after the company reported better-than-expected quarterly results and issued guidance above estimates.
- Q1 Revenue: $3.12 billion beat estimates of $3 billion
- Q1 EPS: $3.19 beat estimates of $3.02
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NXP said all of its focus end markets performed better than the company anticipated, which drove revenue above the high end of previous guidance.
Gross margin was 56.7%. Cash flow from operations came in at $632 million, resulting in free cash flow of $381 million in the quarter.
"Solid 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 the cyclical downturn in our consumer-exposed businesses, while we see continued strength in our automotive and core-industrial businesses," said Kurt Sievers, president and CEO of NXP Semiconductors.
NXP sees second-quarter revenue between $3.1 billion and $3.3 billion versus estimates of $3.04 billion. The semiconductor company expects second-quarter adjusted earnings to be between $3.07 and $3.49 per share.
See Also: Why Chegg Stock Is Tumbling After Hours
NXPI Price Action: NXP Semi shares were up 4.81% after hours at $174 at the time of writing, according to Benzinga Pro.
Photo: Olaf from Pixabay.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.