NXP reports 28% revenue increase in 2021
“NXP delivered full-year record revenue of USD 11.06 billion, an increase of 28% year-on-year, with demand accelerating across all of our focus end-markets throughout the year,” says Kurt Sievers, NXP president and CEO in the company fiscal report.
Full year GAAP gross profit was USD 6.06 billion in 2021, up 43% from USD 4.23 billion in 2020. Full year GAAP Operating Income was USD 2.58 bullion, a massive increase of 518% from USD 418 million in 2020.
“In the fourth quarter, revenue was USD 3.04 billion, an increase of 21% year-on-year, above the mid-point of our guidance range. In review, 2021 was an excellent year for NXP. We experienced significant design win traction across the entire portfolio and especially within the areas of our strategic growth drivers,” Kurt Sievers continues.
Revenue for the Fourth quarter was as stated by Kurt Sievers, USD 3.04 billion, a 21.2% increase from USD 2.50 billion during the same period 2020. GAAP Gross Profit for the quarter was 1.70 billion, an increase of 33% from USD 1.28 billion during the fourth quarter 2020. Fourth quarter GAAP operating income was USD 807 million, a 39% increase from USD 764 million during the same period last year.
“We continue to see growing customer demand, outstripping supply, as inventory across all end markets remains very lean. Taken together, this underpins our continued confidence of robust growth throughout 2022,” the CEO concludes.