NXP Semiconductors Reports Strong Q4 with Higher Sales
NXP Semiconductors reports higher sales and earnings for 4th quarter, citing “significant design win traction” across its portfolio & growing
NXP Semiconductors reports higher sales and earnings for 4th quarter, citing “significant design win traction” across its portfolio & growing
NXP Semiconductors Reports Strong Q4 with Higher Sales
NXP Semiconductors NV reported higher sales and earnings Monday, with total revenue for the fourth quarter of 2020 coming in at $3.04 billion, up from $2.51 billion in the same period last year. The company cited “significant design win traction” across its entire portfolio and noted that customer demand continues to outstrip supply. Earnings for the fourth quarter were $807 million, up from $778 million in 2020, and per-share earnings of $2.24 beat analyst expectations of $2.08.
The strong fourth quarter performance is indicative of a positive trend for NXP Semiconductors as it continues to benefit from increased traction across its portfolio and growing customer demand. With inventory levels remaining lean, the company looks set to continue this growth trajectory into 2021.