NXP Semiconductors Reports 1Q 2022 Results

NXP Semiconductors N.V. reported financial results for the first quarter, ended April 3, 2022.

“NXP delivered record quarterly revenue of $3.14 billion, an increase of 22% year-on-year and above the mid-point of our guidance range. The strong growth we have anticipated for 2022 is materializing. We continue to see robust customer demand, especially our company-specific accelerated growth drivers. Overall, demand continues to outstrip increased supply, and inventory across all end markets remains very lean,” said Kurt Sievers, NXP president and CEO.

Revenue was $3.14 billion, up 22.2% year-on-year, while GAAP gross margin was 56.7% and GAAP operating margin was 27.8%. Cash flow from operations was $856 million, with net capex investments of $279 million, resulting in non-GAAP free cash flow of $577 million.