NXP Semiconductors reported Q2 2024 revenue of $3.1 billion, down 5.2% year-over-year, in line with management expectations. Despite the decline, the company maintained solid profitability with a GAAP gross margin of 57.3% and operating margin of 28.7%. Non-GAAP gross and operating margins were 58.6% and 34.3% respectively.The Automotive segment, NXP's largest, saw a 7.4% YoY revenue drop to $1.73 billion. However, the Industrial IoT and Mobile segments grew 6.6% and 21.5% respectively. The Communication Infrastructure segment declined 23.3%. Geographically, China was the only region to show growth at 6.5% YoY.NXP generated strong cash flow with $761 million from operations and $577 million in non-GAAP free cash flow. The company returned $570 million to shareholders through $260 million in dividends and $310 million in share repurchases. With $2.86 billion in cash and $5.36 billion in total liquidity, NXP maintains a solid financial position to fund operations and strategic initiatives.

NXP Semiconductors reported Q2 2024 revenue of $3.1 billion, down 5.2% year-over-year, in line with management expectations. Despite the decline, the company maintained solid profitability with a GAAP gross margin of 57.3% and operating margin of 28.7%. Non-GAAP gross and operating margins were 58.6% and 34.3% respectively.The Automotive segment, NXP's largest, saw a 7.4% YoY revenue drop to $1.73 billion. However, the Industrial IoT and Mobile segments grew 6.6% and 21.5% respectively. The Communication Infrastructure segment declined 23.3%. Geographically, China was the only region to show growth at 6.5% YoY.NXP generated strong cash flow with $761 million from operations and $577 million in non-GAAP free cash flow. The company returned $570 million to shareholders through $260 million in dividends and $310 million in share repurchases. With $2.86 billion in cash and $5.36 billion in total liquidity, NXP maintains a solid financial position to fund operations and strategic initiatives.