Yahoo Finance NXP Semiconductors reports upbeat guidance after Q1 results beat estimates
Investing.com -- NXP Semiconductors on Monday reported first-quarter results that beat estimates and touted cautious optimism for the second half of the year after guiding the current quarter above Wall Street estimates.
NXP Semiconductors NV (NASDAQ:NXPI) shares were up more than 4% in after-hours trading following the report.
NXP reported EPS of $3.19 on revenue of $3.12 billion. Analysts polled by investing.com anticipated EPS of $3.02 on revenue of $3.00B.
The beat was driven by strong growth in chipmaker's Automotive and Industrial and internet of things, or IoT, units.
The automotive unit, which drives the bulk of growth, reported a 26% rise year-on-year to $1.83B.
The IoT unit saw revenue up 17% in Q1 year-on-year, while mobile revenue was down 35% year-on-year.
Looking ahead, the company guided Q2 adjusted EPS in a range of $3.07 to $3.49 on revenue of $3.10B to $3.30B. That compared with estimates for $2.99 a share on revenue of $3.04B.
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