EINDHOVEN, Netherlands (AP) — EINDHOVEN, Netherlands (AP) — NXP Semiconductors NV (NXPI) on Monday reported first-quarter net income of $490 million.
On a per-share basis, the Eindhoven, Netherlands-based company said it had profit of $1.92. Earnings, adjusted for one-time gains and costs, were $2.64 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.
The chipmaker posted revenue of $2.84 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $2.83 billion.
For the current quarter ending in June, NXP expects its per-share earnings to range from $2.46 to $2.86.
The company said it expects revenue in the range of $2.8 billion to $3 billion for the fiscal second quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NXPI at https://www.zacks.com/ap/NXPI