Yahoo Finance NXP Semiconductors (NXPI) Reports Q2: Everything You Need To Know Ahead Of Earnings
Chip manufacturer NXP Semiconductors (NASDAQ: NXPI) will be reporting earnings tomorrow after the bell. Here's what you need to know.
NXP Semiconductors met analysts' revenue expectations last quarter, reporting revenues of $3.13 billion, flat year on year. It was a weaker quarter for the company, with a miss of analysts' EPS estimates and an increase in its inventory levels.
Is NXP Semiconductors a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting NXP Semiconductors's revenue to decline 5.3% year on year to $3.12 billion, a deceleration from its flat revenue growth in the same quarter last year. Adjusted earnings are expected to come in at $3.20 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. NXP Semiconductors has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.4% on average.
Looking at NXP Semiconductors's peers in the semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Micron Technology delivered year-on-year revenue growth of 81.5%, beating analysts' expectations by 2%, and SMART reported a revenue decline of 12.7%, in line with consensus estimates. Micron Technology traded down 7.1% following the results while SMART was up 26.3%.
Read our full analysis of Micron Technology's results here and SMART's results here.
Investors in the semiconductors segment have had steady hands going into earnings, with share prices flat over the last month. NXP Semiconductors's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $292.3 (compared to the current share price of $269.39).
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