NXP Semiconductors Stock Is Moving Higher After Hours: Here's Why

NXP Semiconductors N.V. NXPI shares are trading higher in extended trading Monday after the company reported better-than-expected quarterly results and issued guidance above estimates.

• Q1 Revenue: $3.12 billion beat estimates of $3 billion
• Q1 EPS: $3.19 beat estimates of $3.02

NXP said all of its focus end markets performed better than the company anticipated, which drove revenue above the high end of previous guidance.

Gross margin was 56.7%. Cash flow from operations came in at $632 million, resulting in free cash flow of $381 million in the quarter. 

"Solid 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 the cyclical downturn in our consumer-exposed businesses, while we see continued strength in our automotive and core-industrial businesses," said Kurt Sievers, president and CEO of NXP Semiconductors.

NXP sees second-quarter revenue between $3.1 billion and $3.3 billion versus estimates of $3.04 billion. The semiconductor company expects second-quarter adjusted earnings to be between $3.07 and $3.49 per share. 

See Also: Why Chegg Stock Is Tumbling After Hours

NXPI Price Action: NXP Semi shares were up 4.81% after hours at $174 at the time of writing, according to Benzinga Pro.

Photo: Olaf from Pixabay.