NXP Semiconductors N.V. (NASDAQ:NXPI) reported its Q2 results, with GAAP EPS of $2.53 coming in significantly worse than the Street estimate of $3.39. Revenue came in at $3.31 billion, compared to the Street estimate of $3.27 billion, as demand continues to exceed supply in its core end markets (Auto/Industrial beat slightly in Q2, while Mobile and Comms were relatively in-line).
While recent macroeconomic weakness is not yet being reflected in the company’s results, management did acknowledge “clear macro-economic cross currents” in the press release and bought back virtually no shares for the first time since mid-2020.
The company expects Q3/22 revenue to be in the range of $3.35-3.5 billion, compared to the Street estimate of $3.33 billion.
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