CNBC4/29/2026Business
NXP Semiconductors Shares Surge 26% After Strong Q1 Earnings Beat
Quick Look
- NXP Semiconductors shares rose 26% Wednesday, on track for its best day since going public in 2010, after reporting Q1 earnings that beat Wall Street estimates.
- The Dutch semiconductor company posted adjusted earnings of $3.05 per share versus $2.95 expected, with revenue of $3.18 billion, up 12% year-over-year.
- CEO Rafael Sotomayor attributed growth to industrial and automotive processing for software-defined vehicles and physical AI, while highlighting data center expansion from $200 million in 2024 to over $500 million projected for 2026.
AI-generated summary
Font size
NXP Semiconductors shares rose 26% Wednesday, on track for its best day since going public in 2010, after reporting Q1 earnings that beat Wall Street estimates. The Dutch semiconductor company posted adjusted earnings of $3.05 per share versus $2.95 expected, with revenue of $3.18 billion, up 12% year-over-year. CEO Rafael Sotomayor attributed growth to industrial and automotive processing for software-defined vehicles and physical AI, while highlighting data center expansion from $200 million in 2024 to over $500 million projected for 2026. Analysts at TD Cowen and Morgan Stanley raised price targets to $310 and $335 respectively.
Related Topics
This article was originally published by CNBC.
