NXP Semiconductors Reports Q3 2023 Revenue of $3.43 Billion

NXP Semiconductors has released its financial results for the third quarter, which ended on October 1, 2023. The company reported a total revenue of $3.43 billion, marking a slight decrease of 0.3 percent compared to the previous quarter.
NXP Semiconductors at a trade eventHere is a breakdown of the revenue by end-markets:

Automotive: $1,891 million (up 5 percent)

Industrial & IoT: $607 million (down 15 percent)

Mobile: $377 million (down 8 percent)

Communication Infrastructure & Other: $559 million (up 8 percent)

“Revenue trends in our Mobile, Industrial & IoT, and Automotive end-markets all performed in-line or better than anticipated, while our Communication Infrastructure & Other end market was slightly below our expectations,” Kurt Sievers, President and Chief Executive Officer of NXP Semiconductors, in its earnings report, said.

During the third quarter, NXP Semiconductors achieved a gross margin of 57.2 percent and an operating margin of 28.9 percent, showcasing the company’s strong financial performance.

Capital expenditure (Capex) investment for the third quarter reached $200 million, reflecting the company’s commitment to investing in its infrastructure and technology to support its growth and innovation initiatives.

Looking ahead, NXP Semiconductors has provided guidance for the current quarter, forecasting adjusted revenue in the range of $3.30 billion to $3.50 billion. This forecast demonstrates the company’s continued focus on delivering robust financial results and sustaining its position as a leader in the semiconductor industry.

NXP Semiconductors remains dedicated to providing cutting-edge solutions for various sectors, including automotive, industrial, IoT, and mobile, and looks forward to a promising future despite the ever-evolving challenges in the global market.