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Dutch chipmaker NXP Semiconductors N.V. only just beat expectations on revenue but fell some way short on earnings as it delivered its first-quarter financial results today.
The company reported a profit before certain costs such as stock compensation of $1.25 per share on revenue of $2.567 billion, up 27% from one year ago. Wall Street had been looking for a profit of $2.21 per share on revenue of $2.56 billion.
NXP Chief Executive Kurt Sievers (pictured) noted however that a “positive product mix” and the increased revenue from a year ago helped the company deliver an operating profit that was “in excess of our guidance.”