NXP Semiconductors Reports 3Q 2019 Results

NXP Semiconductors N.V. reported financial results for the third quarter of 2019, ended Sept. 29, 2019.

Revenue was $2.3 billion, down 7% year-on-year. GAAP gross margin was 52.4%, and GAAP operating margin was 10.3%. Non-GAAP gross margin was 53.7%, and non-GAAP operating margin was 30.3%.

Cash flow from operations was $746 million, with net capex investments of $115 million, resulting in non-GAAP free cash flow of $631 million.

“NXP delivered revenue of $2.3 billion for the third quarter. With sales near the high-end of our guid-ance and good expense control, we successfully delivered improved operating profitability above the high-end of our guidance range. Additionally, during the quarter we returned $79 million to our share-holders, for a total of $6.6 billion returned to shareholders since July 2018,” NXP CEO Richard Clemmer said.