NXP announces second quarter financial results with revenue of $3.13 billion

NXP released its latest financial report, showing that its revenue in the second quarter reached $3.13 billion, which was in line with analysts' expectations. Among them, the revenue of automotive chips decreased by 7% year-on-year to $1.728 billion, the revenue of industrial and Internet of Things chips increased by 7% year-on-year to $616 million, the revenue of mobile chips increased by 21% year-on-year to $345 million, and the revenue of communication infrastructure and other products decreased by 23% year-on-year to $438 million. NXP CEO Kurt Sievers said that they have successfully survived the "cyclical trough" of the business and will continue to seek to maintain the company's profitability and surplus in a challenging environment.