NXP stock wobbles following results, outlook

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NXP Semiconductors NV
NXPI,
+1.72%
 shares fluctuated between slight gains and losses in the extended session Monday after the chip maker’s quarterly results topped expectations but its outlook was less impressive. NXP shares were last up 0.3% after hours, following a 1.7% rise in the regular session to close at $205.02. The company reported first-quarter net income of $353 million, or $1.25 a share, versus a loss of $21 million, or 8 cents a share, in the year-ago period. Revenue rose to $2.57 billion from $2.02 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.18 a share on revenue of $2.56 billion. NXP forecast second-quarter revenue of $2.5 billion to $2.64 billion, while analysts expect $2.56 billion. “We continue to be encouraged by the long-term demand trends across all our end markets, which underpin our continued confidence of very robust growth throughout 2021,” said Kurt Sievers, NXP president and chief executive, in a statement.

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