NXP Semiconductors (NASDAQ:NXPI) earnings for the tech company’s fourth quarter of 2019 have NXPI stock falling in after-hours trading on Monday. The company reported diluted earnings per share of 40 cents. It didn’t provide adjusted EPS to compare to Wall Street’s $2.01 estimate. Revenue for the quarter was $2.30 billion, which beats analysts’ estimates of $2.28 billion.
Here’s what else is worth mentioning from the NXP Semiconductors earnings report.
- Diluted per-share earnings are down 57.45% from 94 cents in the fourth quarter of 2018.
- Revenue is sitting 4.17% lower than the $2.40 billion reported during the same time last year.
- Operating income of $197 million is a 12.05% drop YoY from $224 million.
- The NXP Semiconductors earnings report also includes a net income of $123 million.
- This is a 57.44% decline compared to the company’s net income of $289 million from the same period of the year prior.
Richard Clemmer, Cheif Executive Officer of NXP Semiconductors, says this about the NXPI stock earnings report.
“NXP delivered full-year revenue of $8.88 billion, a decline of 6 percent year-on-year, against a very challenging semiconductor industry backdrop. As we look forward to 2020, we are increasingly confident that the demand trends within our end markets are beginning to moderately improve.”
The NXP Semiconductors earnings report also includes its outlook for the first quarter of 2020. It is expecting revenue for the quarter to range from $2.195 billion to $2.255 billion. For comparison, Wall Street is estimating revenue of $2.17 billion from NXPI during the quarter.
NXPI stock was down 1,15% in after-hours trading Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.