NXP sees its 2Q revenues jump 43% YoY

"We continue to be very positive about the long-term demand trends across all our end markets, and while the supply environment will remain challenging in the near term we have taken actions to increase supply which underpin our confidence to drive very robust growth for the remainder of 2021, as well as into 2022,” says Kurt Sievers, NXP President and CEO in the company's second quarter report. NXP recorded second quarter revenues of EUR 5.6 billion, a 42.9% YoY increase from EUR 1.81 billion. GAAP gross profit was EUR 1.42 billion during the second quarter of 2021, compared with EUR 860 million during the same period last year. GAAP operating income for the quarter amounted to EUR 573 million, as compared to a loss of EUR 145 million during the same quarter last year. Net income for the quarter ended up at EUR 406 million, compared to a loss of EUR 209 million during the same quarter 2020. For the third quarter the company expects revenues between EUR 2.77 billion and EUR 2.92 billion