NXP up sharply on Q4 beat

|About: NXP Semiconductors (NXPI)|By:, SA News Editor

NXP (NXPI +5.7%) is up strongly after beating Q4 estimates. Q1 guidance (revenue of $1.21B-$1.25B and EPS of $0.84-$0.96) is in-line with a consensus of $1.23B and $0.89.

Q4 gross margin was 49%, up from 46% a year earlier and in-line with guidance. NXP is forecasting a 48%-49% gross margin for seasonally weak Q1.

NXP's 17% Y/Y rev. growth was fueled by a 50% increase in portable/computing chip sales to $159M (boosted by sales of M7 motion co-processors to Apple), a 21% increase in automotive chip sales to $275M, and a 20% increase in industrial/infrastructure chip sales to $194M.

Identification chip sales (inc. NFC chips) rose 13% to $329M, and sales of standard products (analog chips) rose just 2%.

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This was corrected on 02/06/2014 at 04:56 PM. NXP's guidance was previously stated as being below consensus estimates. The company's guidance is in-line.