Connect with us

Company News

NXP Semiconductors grows operating profit 65% in Q2

NXP Semiconductors N.V. reported financial results for the second quarter, ended July 3, 2022.

“NXP delivered quarterly revenue of $3.31 billion, an increase of 28 percent year-on-year and above the mid-point of our guidance range. Notwithstanding the clear macro-economic cross currents, NXP continues to perform well. Customer demand within the Auto and Industrial & IoT end-markets continues to exceed our incrementally improving supply, even as we risk-adjust our long term orders. New design win commitments are remarkably strong across our focus end-markets, which underpins confidence that our investments are well aligned with the long-term market requirements,” said Kurt Sievers, NXP President and Chief Executive Officer.

Key highlights for the second quarter 2022:

  • Revenue was $3.31 billion, up 27.6 percent year-on-year;
  • GAAP gross margin was 56.8 percent, and GAAP operating margin was 28.5 percent;
  • Non-GAAP gross margin was 57.8 percent, and non-GAAP operating margin was 36.0 percent;
  • Cash flow from operations was $819 million, with net capex investments of $268 million, resulting in non-GAAP free cash flow of $551 million;
  • On April 6, 2022 NXP paid cash dividends of $222 million;
  • On May 16, 2022, NXP issued unsecured notes for a total amount of $1.5 billion. The amount was split into two notes: $500 million that matures in 2027 and a green bond of $1 billion maturing in 2033. Net proceeds were $1,496 million;
  • On May 27, 2022, NXP fully redeemed the $900 million aggregate principal amount of outstanding 4.625% Senior Unsecured Notes due 2023;
  • On June 2, 2022, the NXP Board of Directors approved the payment of an interim dividend for the second quarter 2022 of $0.845 per ordinary share. The interim dividend was paid in cash on July 6, 2022 to shareholders of record as of June 15, 2022;
  • On June 14, 2022, NXP announced the new MCX portfolio of microcontrollers, designed to advance innovation in smart homes, smart factories, smart cities and across many emerging industrial and IoT edge applications. The portfolio includes four series of devices built on a common platform and is supported by the widely adopted MCUXpresso suite of development tools and software;
  • On June 21, 2022, NXP announced two new processor families that extend the benefits of NXP’s innovative S32 automotive platform.
  • The S32Z and S32E processor families help enable the automotive industry to accelerate the integration of diverse real-time applications for domain and zonal control, safety processing and vehicle electrification that are critical to the next generation of safer and more efficient vehicles; and
  • On July 20, 2022, NXP announced that it has signed a memorandum of understanding with Hon Hai Technology Group (“Foxconn”) to jointly develop platforms for a new generation of smart connected vehicles. Hon Hai (Foxconn), the world’s largest electronics manufacturer and a leading technology solution provider, will leverage NXP’s portfolio of automotive technologies and its longstanding expertise in safety and security to enable architectural innovation and platforms for electrification, connectivity and safe automated driving.

CT Bureau

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!