NXP Semiconductors N.V. enables secure connections and infrastructure for a smarter world, advancing solutions that make lives easier, better, and safer. As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the secure connected vehicle, end-to-end security & privacy, and smart connected solutions markets. Built on more than 60 years of combined experience and expertise, the company has approximately 30,000 employees in more than 30 countries and posted revenue of $9.41 billion in 2018.
NXP Semiconductors N.V. (NASDAQ: NXPI) reported first quarter financial results. Revenue for the first quarter reached USD 2.1 Billion, a decrease of 8% compared to results a year prior. The company repurchased 8.5 million shares at a total sum of USD 715 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. Looking forward, our second quarter guidance reflects the successful design win momentum and traction we have achieved with our customers. 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 Richard Clemmer, NXP Chief Executive Officer.