NXP's Q2 revenue is 3.3 billion, of which the sales volume of automotive chips is the highest

【Lansheng Technology Information】On July 24, NXP Semiconductors announced its financial report for the second quarter of 2023. Although revenue and profit fell slightly, they were still better than market expectations.

According to financial report data, revenue in the second quarter of 2023 (as of July 2) was US$3.3 billion, a slight decrease of 0.4% year-on-year, but exceeded analysts’ expectations of US$3.21 billion; excluding special items, under the Non-GAAP standard NXP earned $3.43 per share, beating analysts’ expectations of $3.29.

NXP's non-GAAP profit margin in the second quarter rose to 35.0% from 34.8% in the first quarter, which was worse than the 36.0% in the second quarter of 2022. The non-GAAP profit margin in the third quarter is expected to be between 34.4- 36.2% (median 35.3%).

In terms of segmented business, due to the strong demand of automakers for automotive chips, NXP's automotive business revenue accounted for the majority share, and achieved quarter-on-quarter and year-on-year growth. The other two businesses fell sharply year-on-year, but showed a recovery trend quarter-on-quarter. The latter two businesses experienced a quarter-on-quarter decline in Q1.

According to data, NXP’s automotive business revenue in the second quarter reached US$1.866 billion, a year-on-year increase of 9% and a quarter-on-quarter increase of 2%. Industrial and Internet of Things business revenue was US$578 million, a year-on-year decrease of 19% and a quarter-on-quarter increase of 15%. Mobile application business revenue was $284 million, down 27% year-over-year. A quarter-on-quarter increase of 9%. Communications infrastructure and other products revenue was $571 million, an increase of 15% year-over-year and an increase of 8% quarter-over-quarter.

NXP reported 1.6 months of channel inventory days in the second quarter, the same as in the second quarter of 2022 and the first quarter of 2023.

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