Technology company NXP Semiconductors N.V. (NASDAQ: NXPI) on Monday announced financial results for the first quarter of 2023.
- First-quarter revenue was $3.12 billion, which is down 0.5% from the corresponding period of last year
- Gross margin, on a reported basis, remained unchanged year-over-year at 56.7% in the first quarter
- Non-GAAP gross margin was 58.2 percent
- Net income declined to $615 million or $2.35 per share from $657 million or $2.48 per share last year; adjusted earnings were $3.19 per share
- Cash flow from operations was $632 million, with net capex investments of $251 million, resulting in non-GAAP free cash flow of $381 million
- In Q1, the company paid cash dividends of $219 million