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Revenue was $3.43 billion, down 0.3% year-on-year, while cash flow from operations was $988 million.
November 7, 2023
By: DAVID SAVASTANO
NXP Semiconductors N.V. reported financial results for the third quarter, ended Oct. 1, 2023. Revenue was $3.43 billion, down 0.3% year-on-year. GAAP gross margin was 57.2%, and GAAP operating margin was 28.9%. Cash flow from operations was $988 million, with net capex investments of $200 million, resulting in non-GAAP free cash flow of $788 million. “NXP delivered quarterly revenue of $3.43 billion, $34 million above the midpoint of guidance. 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. The combination of our third quarter results, and the mid-point of our fourth quarter guidance indicates revenue for the full year 2023 will be flat versus 2022 in a challenging and cyclical market environment,” said Kurt Sievers, NXP president and CEO.
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