NXP Semiconductors NV (NASDAQ:NXPI) stock fell 1.19% (As on May 3, 11:18:45 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 22. NXP’s automotive business unit is not only the company’s biggest but also the fastest-growing. During the quarter it amassed $1.55 billion in revenue for the company, up 27% from a year ago. Industrial and IoT chip sales added an additional $682 million in sales, up 19% from a year ago, while mobile chip sales raked in $401 million, up 16%. Lastly, NXP’s communications infrastructure and other business segment added $496 million in sales, up 18% from one year ago. Non-GAAP gross margin was 57.6 percent, and non-GAAP operating margin was 35.7 percent. Cash flow from operations was $856 million, with net capex investments of $279 million, resulting in non-GAAP free cash flow of $577 million.
NXPI in the first quarter of FY 22 has reported the adjusted earnings per share of $3.45, beating the analysts’ estimates for the adjusted earnings per share of $3.18. The company had reported the adjusted revenue growth of 22 percent to $3.14 billion in the first quarter of FY 22, beating the analysts’ estimates for revenue of $3.10 billion.
Additionally, the company has approved the payment of an interim dividend for the first quarter 2022 of $0.845 per ordinary share, reflecting an increase of 50 percent from the prior quarterly dividend. The interim dividend was paid in cash on April 6, 2022 to shareholders of record as of March 15, 2022.
NXP said it’s looking at second-quarter revenue in a range of between $3.18 billion and $3.38 billion, well ahead of Wall Street’s forecast of $3.15 billion.
On the other hand, the company has now designed-in at 20 top global OEMs. The industry’s first dedicated 16nm imaging radar processor, the NXP S32R45, has been released into mass production, with initial customer ramp-up starting in the first half 2022. Additionally, the new NXP S32R41 has been introduced to extend 4D imaging radar’s benefits to a much larger number of vehicles. Together these processors serve the L2+ through L5 autonomy sectors, enabling 4D imaging radar for 360-degree surround sensing. On Jan 4, 2022 NXP announced the IW612, the industry’s first secure tri-radio device to support the Wi-Fi 6, Bluetooth 5.2 and 802.15.4 protocols.