Summary by Moomoo AI
NXP Semiconductors reported Q2 2024 revenue of $3.13 billion, down 5% year-on-year but in line with guidance. GAAP gross margin was 57.3% and operating margin was 28.7%. Non-GAAP diluted EPS was $3.20.The company generated $761 million in operating cash flow and $577 million in free cash flow. NXP returned $570 million to shareholders through dividends and share repurchases. All focus end-markets performed as expected, with the company successfully navigating the cyclical trough.For Q3 2024, NXP expects revenue between $3.15-$3.35 billion, representing 1-7% sequential growth. The company anticipates resuming sequential growth, citing resilient profitability in a challenging demand environment. NXP also announced new product developments in vehicle processors and EV power solutions.