NXP Semiconductors Shares Dip After Q3 Results: EPS Beat, Revenues In-Line, Q4 Guidance Below Estimates

NXP Semiconductors N.V. NXPI reported its third-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter.  

The Details: NXP Semiconductors reported quarterly earnings of $3.45 per share, which beat the analyst consensus estimate of $3.43. Quarterly revenue came in at $3.25 billion which met the consensus estimate and is a decrease from sales of $3.43 billion from the same period last year.

The company reported non-GAAP gross margin of 58.2% and non-GAAP operating margin of 35.5%. Cash flow from operations was $779 million, with net capex investments of $186 million, resulting in non-GAAP free cash flow of $593 million for the quarter.

NXP Semiconductors will host a conference call to discuss the results on Tuesday at 8 a.m. EST.

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“NXP delivered quarterly revenue of $3.25 billion, in-line with our overall guidance. While we experienced some strength against our expectations in the Communication Infrastructure, Mobile and Automotive end markets, we were confronted with increasing macro-related weakness in the Industrial & IoT market. Our guidance for the fourth quarter reflects broader macro weakness especially in Europe and the Americas,” said Kurt Sievers, NXP president and CEO.

Outlook: NXP Semiconductors sees fourth-quarter revenue in a range of $3 billion to $3.2 billion, versus the $3.35 billion estimate, and earnings of between $2.93 and $3.33 per share, versus the $3.64 estimate.

NXPI Price Action: According to Benzinga Pro, NXP Semiconductors shares are down 5.02% after-hours at $225 at the time of publication Monday.

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Photo: Courtesy of NXP Semiconductors N.V.