NXP Semiconductors Reports First Quarter 2019 Results

NXP Semiconductors N.V. reported financial results for the first quarter of 2019, ended March 31, 2019.
 
Revenue was $2.1 billion, down 8% year-on-year. GAAP gross margin was 51.2%, and GAAP operating margin was 2.6%. Non-GAAP gross margin was 52.7%, and non-GAAP operating margin was 26.7%. Cash flow from operations was $296 million, with net capex investments of $144 million, resulting in non-GAAP free cash flow of $152 million.
 
“NXP delivered revenue of $2.1 billion during the first quarter, just above our guidance. Due to a richer mix of sales and good expense control, we successfully delivered improved profitability toward the higher end of our guidance range. Additionally, during the quarter we returned $788 million to our shareholders consistent with our long-term capital return policy. We continue to believe the demand environment in the second half of 2019 should improve versus the first half, but the macro-economic environment is still uncertain, especially in China,” said NXP CEO Richard Clemmer.