NXP Semiconductors NV (NASDAQ:NXPI) reported upbeat first-quarter financial results Tuesday after market close.
NXP reported first-quarter revenue of $3.18 billion, up 12% year-over-year. The revenue total beat a Street consensus estimate of $3.16 billion, according to data from Benzinga Pro. The company reported quarterly earnings per share of $3.05, beating a Street consensus estimate of $2.95.
“Our growth reflects sustained investment, disciplined execution and growing customer adoption of our differentiated portfolio, particularly in industrial and automotive processing that supports software-defined vehicles and physical AI,” NXP Semiconductors CEO Rafael Sotomayor said.
The company is guiding for second-quarter revenue of $3.35 billion to $3.55 billion versus a Street consensus …