NXP Semiconductors reported second-quarter revenues up 43 percent year-on-year to USD 2.6 billion. The growth was at the high end of its forecast and the company said it expects the robust demand to continue in the rest of the year and into 2022. The gross margin improved to 54.8 percent from 47.3 percent a year earlier, better than expected, and adjusted operating profit more than doubled, to USD 830 million from USD 376 million a year ago.
The strong sales growth was driven by the automotive sector, which increased revenues 87 percent on an annual basis to USD 1.3 billion. The mobile business also grew 36 percent to USD 347 million, while other communications infrastructure products were down 8 percent to USD 416 million.
For the third quarter, NXP forecast revenues of USD 2.775-2.995 billion, equal to 10 percent annual growth at the midpoint. The gross margin is estimated at around 55.0 percent and adjusted operating profit at USD 900-982 million. The company said the supply environment is expected to remain tight in the coming period but it has taken measures to ensure it can continue to meet market demand.
