NXP Semiconductors reported fourth-quarter earnings that missed analysts’ expectations, while the chip company projected a year-over-year decline in the current quarter’s revenue.
NXP’s earnings climbed to $2.76 a share (from $2.24 in the year-ago quarter), but was shy of the consensus estimate of $2.77 (based on Capital IQ poll). Revenue rose +9% to $3.31 billion, beating the Street expectations of $3.3 billion.
NXP revenue in the automotive segment climbed +17% to $1.81 billion. Industrial and internet of things revenue fell to $605 million from $661 million in the year-ago quarter. Mobile revenue rose +9% to $408 million, while communications infrastructure revenue grew +8% to $494 million.
For the current quarter, NXP estimates adjusted earnings per share in the range of $2.82 to $3.22, whose mid-point of $3.01 is lower than the consensus for $3.15 (based on Capital IQ poll). The company is expecting revenue to be between $2.9 billion and $3.1 billion, (implying annual decrease of -1% to -8%), while analysts’ have predicted $3.15 billion.