NXP Semiconductors Q2 Earnings: Revenue Beat, EPS Miss — 'NXP Has Successfully Navigated The Cyclical Trough ... And We Expect To Resume Sequential Growth'

NXP Semiconductors N.V. NXPI reported second-quarter financial results after the bell on Monday. Here’s a rundown of the report.

Q2 Earnings: NXP said second-quarter revenue decreased 5% year-over-year to $3.127 billion, beating analyst estimates of $3.125 billion. The company reported adjusted earnings of $3.20 per share, narrowly missing estimates of $3.21 per share, per Benzinga Pro.

The earnings miss appears to be weighing on shares, especially considering that NXP has a strong history of earnings beats. The company had met or exceeded analyst estimates in 15 of the last 16 quarters heading into Monday’s print, according to data from Benzinga Pro.

NXP said cash flow from operations came in at $761 million. The company also generated $577 million of free cash flow during the quarter.

“NXP delivered quarterly revenue of $3.13 billion, consistent with our guidance, with all our focus end-markets performing in-line with our expectations,” said Kurt Sievers, president and CEO of NXP.

“With our second-quarter results and guidance for the third quarter, NXP has successfully navigated the cyclical trough in our businesses and we expect to resume sequential growth. We continue to manage what is in our control enabling NXP to drive resilient profitability and earnings in a challenging demand environment.”

Outlook: NXP expects third-quarter revenue to be in the range of $3.15 billion to $3.35 billion versus estimates of $3.35 billion. The company sees third-quarter adjusted earnings in the range of $3.21 to $3.63 per share versus estimates of $3.56 per share.

Management will hold a conference call to discuss these results Tuesday morning at 8 a.m. ET.

NXPI Price Action: NXP Semiconductors shares were down 8.21% at $260.50 at the time of publication, according to Benzinga Pro.

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