NXP Semiconductors (NASDAQ: NXPI) reported its Q4 results, with EPS of $2.76 coming in significantly worse than the Street estimate of $3.64. Revenue was $3.31 billion, slightly lower than the Street estimate of $3.3 billion.
Auto (54% of total) was up 17% year-over-year, breaking its streak of nine consecutive quarters of growth. Auto has been resilient but not immune to the broader macro slowdowns.
Industrial & IoT (22% of total) was down 8% year-over-year, impacted by China COVID lockdowns in 2022. Comms (15% of total) was up 8% year-over-year, worse than expected 13% growth.
The company expects Q1/23 EPS to be in the range of $2.82-$3.22, compared to the Street estimate of $3.09. Q1 revenue is expected in the range of $2.9-3.1 billion, compared to the Street estimate of $3.17 billion, due to a weaker economy that impacted demand for chips in its internet of things and mobile sectors.
NXP Semiconductors Report Q4 Miss & Disappointing Guidance