NXP Semiconductors N.V. stock research
FY2024 Q1
NXP Semiconductors N.V. (NXPI) Gross Margin — Quarter Ended Mar 31, 2024
Revenue decreased from the prior quarter and was unchanged from the same quarter a year earlier. Gross profit declined in line with revenue, while cost of revenue fell at a faster pace, leading to an improvement in gross margin.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue decreased from the prior quarter and was unchanged from the same quarter a year earlier. Gross profit declined in line with revenue, while cost of revenue fell at a faster pace, leading to an improvement in gross margin.
- The primary observable driver is the reduction in cost of revenue relative to revenue. Compared with both the preceding quarter and the year-ago quarter, cost of revenue decreased more sharply than revenue, expanding gross margin.
- Gross margin improved compared with the immediately preceding quarter and also edged higher compared with the same quarter one year earlier. Revenue was stable year over year but lower sequentially, while cost of revenue declined in both comparisons.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
57.0%
Gross profit
$1.8B
Revenue
$3.1B
Cost of revenue
$1.3B
Quarter-over-quarter change
+0.4 pts
Year-over-year change
+0.3 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jul 2, 2023 | $3.3B | $1.9B | $1.4B | 57.0% |
| Oct 1, 2023 | $3.4B | $2.0B | $1.5B | 57.2% |
| Dec 31, 2023 | $3.4B | $1.9B | $1.5B | 56.6% |
| Mar 31, 2024 | $3.1B | $1.8B | $1.3B | 57.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
+0.4 pts
Year-over-year change
Apr 2, 2023
+0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The primary observable driver is the reduction in cost of revenue relative to revenue. Compared with both the preceding quarter and the year-ago quarter, cost of revenue decreased more sharply than revenue, expanding gross margin.
Gross margin improved compared with the immediately preceding quarter and also edged higher compared with the same quarter one year earlier. Revenue was stable year over year but lower sequentially, while cost of revenue declined in both comparisons.
Monitor whether the trend of cost of revenue declining faster than revenue can be sustained in upcoming quarters.