NXP Semiconductors N.V. (NASDAQ:NXPI) reported financial results for the third quarter after the market close on Monday. Here’s a look at the key details from the Dutch semiconductor company’s report.
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Q3 Highlights: NXP reported third-quarter revenue of $3.02 billion, missing analyst estimates of $3.16 billion, according to Benzinga Pro. The chipmaker reported adjusted earnings of $3.11 per share for the third quarter, in line with analyst estimates.
Total revenue was down 2% on a year-over-year basis. NXP generated $585 million in cash flow from operations and $509 million of free cash flow in the quarter.
“We experienced broad-based sequential improvement across all regions and end markets,” said Rafael Sotomayor, president and incoming CEO of NXP Semiconductors.
The company returned $54 million to shareholders during the quarter via buybacks and $256 million through dividends. NXP ended the period with approximately $3.45 billion in cash and cash equivalents.
What’s Next: NXP expects fourth-quarter revenue of $3.2 billion to $3.4 billion versus estimates of $3.24 billion. The company sees fourth-quarter adjusted earnings in the range of $3.07 to $3.49 per share, versus estimates of $3.29 per share.
“Our outlook reflects the strength of our company specific growth drivers and signs of a cyclical recovery. We remain focused on disciplined investment and portfolio enhancement to drive profitable growth, while maintaining control over the factors we can influence,” Sotomayor said.
NXP executives will further discuss the quarter on an earnings call Tuesday morning at 8 a.m. ET.
NXPI Price Action: NXP Semiconductors shares were up 1.17% in after-hours trading on Monday, trading at $224.15 at the time of publication, according to Benzinga Pro.
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