Revenue Exceeds Guidance
Revenue was $26 million better than the midpoint of guidance, totaling $2.93 billion for Q2.
Strong Sequential Growth in Key Segments
Automotive is expected to grow in the mid-single-digit range sequentially, and Industrial & IoT is expected to grow in the high single-digit range.
Positive Cyclical Trends Detected
Signals such as growing customer backlog, improved order signals, and increased short-cycle orders indicate the beginning of a new up cycle.
Effective Inventory Management
Channel inventory held steady at 9 weeks, which is below the long-term target of 11 weeks, ensuring competitive positioning.
Successful Strategic Acquisitions
The recent acquisition of TTTech Auto is expected to strengthen NXP's competitive portfolio, despite minimal immediate revenue impact.