NXP Semiconductors (NXPI) Q1 Revenues Beats

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NXP Semiconductors Reports First Quarter 2022 Results

May 2, 2022 4:10 PM EDT

EINDHOVEN, The Netherlands, May 02, 2022 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the first quarter, ended April 3, 2022.

NXP delivered record quarterly revenue of $3.14 billion, an increase of 22 percent year-on-year and above the mid-point of our guidance range. The strong growth we have anticipated for 2022 is materializing. We continue to see robust customer demand, especially our company-specific accelerated growth drivers. Overall, demand continues to outstrip increased supply, and inventory across all end markets remains very lean, said Kurt Sievers, NXP President and Chief Executive Officer.

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