NXP’s revenue in the first quarter of 2022 increased by 22 percent compared to the previous year. In the first three months of the year, the company turned over 3.14 billion dollars, or 2.99 billion euros.
In addition, the Eindhoven chipmaker saw its profit rise considerably. Compared to the previous year, the profit rose to 625 million euros.
For NXP, the auto market remains the most important business sector. This industry has contributed 27 percent of the company’s turnover. Compared to the previous quarter, the revenue of the communications and infrastructure business unit grew the most, by 9 per cent.
Increasing revenue for the chipmaker is no surprise though. There has been a huge chips shortage since the corona crisis. This also has to do with business operations at ASML and DAF, among others. Demand is also sky-high at chip machine maker ASML, while DAF indicates that the production of trucks is being held back by the lack of chips.
NXP’s shareholders, on the other hand, profit from the continuing chip shortage. They received 701 million dollars dividend.