NXP targets second-quarter revenue of $3,025 mn

NXP Semiconductors has reported revenue of $3.13 billion (up 0.2 percent) for the first quarter of 2024.
NXP Semiconductors at a trade eventNXP Semiconductors has generated sales revenue of $1,804 million (down 1 percent) from Automotive, $574 million (up 14 percent) from Industrial & IoT, $349 million (up 34 percent) from Mobile, $399 million (down 25 percent) from Communication Infrastructure & Other during the first quarter.

“Our first-quarter results, guidance for the second quarter, and our early views into the second half of the year underpin a cautious optimism that NXP is successfully navigating through this industry-wide cyclical downturn,” said Kurt Sievers, NXP President and Chief Executive Officer.

NXP is targeting second-quarter revenue of $3,025 million – $3,225 million for the second quarter of April-June 2024. NXP had increased pricing by about 8 percent in 2023 to help maintain its margins in the face of higher input costs. The company said in February it expects pricing to be flat in 2024.