EINDHOVEN, The Netherlands — NXP Semiconductors (NASDAQ: NXPI) released its financial results for Q2 2024, which ended on June 30, 2024.
Key Financial Highlights:
Revenue: Total revenue for the quarter was $3.13 billion, a 5% year-over-year decline.
GAAP Metrics:
Gross margin: 57.3%
Operating margin: 28.7%
Diluted Net Income per Share: $2.54
Non-GAAP Metrics:
Gross margin: 58.6%
Operating margin: 34.3%
Diluted Net Income per Share: $3.20
Cash Flow:
Cash flow from operations reached $761 million.
Non-GAAP free cash flow stood at $577 million after $184 million in capital expenditures.
Capital Return: NXP returned $570 million to shareholders through dividends ($260 million) and share repurchases ($310 million), representing 99% of its non-GAAP free cash flow.
Business Segment Performance:
Automotive: Revenue decreased 7% YoY to $1.73 billion.
Industrial & IoT: Up 7% YoY, reaching $616 million.
Mobile: Grew 21% YoY, totaling $345 million.
Communications Infrastructure & Other: Declined by 23% YoY to $438 million.
Guidance for Q3 2024: NXP projects revenues between $3.15 billion and $3.35 billion, with expectations of sequential growth of up to 7%.
NXP continues to navigate market challenges with a focus on resilient profitability.
Warm reminder: The above information is for reference only and not as market entry advice; investment is risky and caution is required when entering the market.
