NXP Q4 2023 Earnings Report

NXP's Q4 2023 earnings were reported, demonstrating a 3% year-over-year revenue increase and strong free cash flow generation amidst a challenging semiconductor market.

Key Takeaways

NXP Semiconductors reported a 3% year-over-year increase in revenue for Q4 2023, reaching $3.42 billion. The company's performance reflects strong execution and consistent gross margin, resulting in healthy free cash flow generation despite a challenging market environment. NXP delivered full-year 2023 revenue of $13.28 billion, an increase of 1 percent year-on-year.

Fourth quarter revenue was $3.42 billion, up 3 percent year-on-year.

Fourth quarter GAAP gross margin was 56.6 percent, GAAP operating margin was 26.5 percent and GAAP diluted Net Income per Share was $2.68.

Fourth quarter non-GAAP gross margin was 58.7 percent, non-GAAP operating margin was 35.6 percent, and non-GAAP diluted Net Income per Share was $3.71.

Fourth quarter cash flow from operations was $1,137 million, with net capex investments of $175 million, resulting in non-GAAP free cash flow of $962 million.

Total Revenue

$3.42B

Previous year: $3.31B