NXP Semiconductors Reports 1Q 2021 Results

NXP Semiconductors N.V. reported first-quarter 2021 revenue increase of 27% year over year to $2.6 billion, with strong cash flow and gross margins. 

First-quarter GAAP gross margin was 52.8%, and GAAP operating margin was 19.2%, while first-quarter non-GAAP gross margin was 54.2%, and non-GAAP operating margin was 30.9%. First-quarter cash flow from operations was $732 million.

“NXP delivered first quarter revenue of $2.6 billion, an increase of 27% versus the year-ago period, and better than the mid-point of our guidance. Positive product mix and increased revenue helped deliver excellent operating profit in excess of our guidance. We continue to be encouraged by the long-term demand trends across all our end markets, which underpin our continued confidence of very robust growth throughout 2021,” said Kurt Sievers, NXP president and CEO.