As expected, NXP saw a further (link in Dutch) decrease in revenue during the current slowdown in the semiconductor industry. The Eindhoven-based chipmaker delivered revenue of 2,1 billion dollars in the first quarter, down 8 percent compared to the same quarter last year. The company also posted a 21 million dollar loss, while in Q1-2018 a profit of 58 million dollars was realized. The difference in operating incomes was quite dramatic, as it was down 61 percent year-on-year.
NXP believes better days are ahead, however. Though still down compared to last year, revenue is expected to go up 3-7 percent sequentially next quarter. “Our second-quarter guidance reflects the successful design-win momentum and traction we have achieved with our customers. We continue to believe the demand environment in the second half of 2019 should improve versus the first half, but the macro-economic environment is still uncertain, especially in China,” said CEO Richard Clemmer.