Eindhoven-based chipmaker NXP Semiconductors increased its second-quarter revenue by nearly one-fifth year-over-year. The company announced on Tuesday that net profit rose by a third over the same period.
Revenue grew 19 percent compared to the previous year, reaching 3.5 billion dollars (over 3 billion euros). Sequentially, revenue increased by 10 percent from the first quarter. The Nasdaq-listed company generated a net profit of 918 million dollars, marking a 33 percent increase year-on-year.
CEO Rafael Sotomayor attributed the results to artificial intelligence expanding beyond cloud data centers into physical hardware like vehicles, factories, and robotics. NXP specializes in microchips for automotive, industrial, and smart device applications.
Communication division leads growth across business units
The automotive division, which generates the majority of NXP’s revenue, grew by 12 percent year-on-year. Meanwhile, the communication infrastructure division posted the strongest performance, surging 41 percent.
Looking ahead, NXP projects third-quarter revenue growth between 15 and 21 percent.
@ anp | NEWSBRAINPORT
