NXP Semiconductors Climbs After Better-Than-Expected Q4 Earnings

NXP Semiconductors N.V. NXPI reported its fourth-quarter financial results after the bell Monday. Here's a look at the highlights.

The Details:

NXP reported quarterly adjusted earnings of $3.71 per share which beat the analyst consensus estimate of $3.63 by 2.2% and represents a 0.54% decrease over earnings of $3.73 per share year-over-year.

The company reported quarterly sales of $3.42 billion, beating the analyst consensus estimate of $3.40 billion by 0.65% and representing a 3.32% increase over sales of $3.31 billion from the same period last year.

NXP sees first-quarter total revenue of between $3.025 billion and $3.225 billion and first-quarter adjusted earnings per share of between $2.97 and $3.38 per share.

“In review, NXP delivered solid results throughout 2023, reflecting strong execution, consistent gross margin, and healthy free cash flow generation despite a challenging semiconductor market environment. We are navigating a soft landing by managing what is in our control, especially limiting over shipment of products to customers,” said Kurt Sievers, CEO of NXP.

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NXPI Price Action: According to Benzinga Pro, NXP Semiconductors shares are trading up 3.16% after-hours at $228.00 at the time of publication.

Image: Gerd Altmann from Pixabay