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Investing.com — NXP Semiconductors reported mixed quarterly results and softer-than-expected revenue guidance for the first quarter as a weaker economic backdrop weighed on demand for chips in its internet of things and mobile businesses.
NXP Semiconductors NV (NASDAQ:NXPI) shares were down about 4% in after-hours trading following the report.
NXP reported diluted earnings per share of $2.76 on revenue of $3.31 billion. Analysts polled by investing.com anticipated EPS of $2.77 on revenue of $3.30B.
Industrial and internet of things, or IoT, revenue was down 8% in Q4 year-on-year, while mobile revenue was up 9% year-on-year.
“[O]ur consumer IoT and mobile businesses experienced a softening demand environment through the second half of 2022,” the company said.
Automotive, the corporate’s largest enterprise, reported a 17% gain, to $1.81B.
The company guided adjusted earnings per share in range of $2.82 to $3.22 on revenue of $2.9B to $3.1B. That compared with estimates for $3.09 a share on revenue of $3.17B.
The company also hiked its quarterly dividend by 20% to $1.014 per ordinary share.
