NXP forecasts 11% hit from Covid-19 in 2Q20

April 28, 2020 //By Peter Clarke
NXP forecasts 11% hit from Covid-19 in 2Q20
NXP Semiconductors NV (Eindhoven, The Netherlands) delivered 1Q20 sales inline with its amended guidance and forecast revenue would fall 10.9 percent sequentially in the second quarter.

The company amended its guidance for the 1Q20 in March stating that the Covid-19 pandemic would knock approximately 5 percent of its revenue (see NXP, Analog forecast about 5% coronavirus impact on quarterly revenues ). The company further reduced its forecast for 1Q20 – to $2,021 million – on April 7.

The quarter has come in at that figure, a 3 percent drop year-on-year. The company made an operating income of $68 million, which was up from $54 million a year before.

However, the company is predicting sequential fall in revenue in 2Q20 to between $1.7 billion and $1.8 billion and swing to an operating loss of between $115 million and $237 million. At the mid-point of its guidance the company makes an operating loss of $177 million on revenue of $1.8 billion.

The company has four main business divisions and the communications infrastructure unit reported a 10 percent fall year-on-year to $404 million and automotive a 4 percent fall to $994 million. Industrial & IoT recorded $376 million and mobile $247 million, both up 2 percent on a year before.

Related links and articles:

www.nxp.com

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NXP, Analog forecast about 5% coronavirus impact on quarterly revenues


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