EINDHOVEN, Netherlands (AP) — EINDHOVEN, Netherlands (AP) — NXP Semiconductors NV (NXPI) on Monday reported first-quarter profit of $615 million.
The Eindhoven, Netherlands-based company said it had profit of $2.35 per share. Earnings, adjusted for amortization costs and stock option expense, came to $3.19 per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $3.02 per share.
The chipmaker posted revenue of $3.12 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $3 billion.
For the current quarter ending in June, NXP expects its per-share earnings to range from $3.07 to $3.49.
The company said it expects revenue in the range of $3.1 billion to $3.3 billion for the fiscal second quarter.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NXPI at https://www.zacks.com/ap/NXPI
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.