NXP Semiconductors reported Q4 2023 revenue of $3.42 billion, up 3 percent year-on-year. Full-year revenue was $13.28 billion, up 1 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. Full-year GAAP gross margin was 56.9 percent, GAAP operating margin was 27.6 percent and GAAP diluted Net Income per Share was $10.70.
“NXP delivered full-year 2023 revenue of $13.28 billion, an increase of 1 percent year-on-year. In the fourth quarter, revenue was $3.42 billion, an increase of 3 percent year-on-year, above the mid-point of our guidance range. In review, NXP delivered solid results throughout 2023, reflecting strong execution, consistent gross margin, and healthy free cash flow generation despite a challenging semiconductor market environment. We are navigating a soft landing by managing what is in our control, especially limiting over shipment of products to customers,” said Kurt Sievers, NXP President and Chief Executive Officer.
