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Investing.com -- NXP Semiconductors reported first-quarter earnings and revenue ahead of Wall Street expectations on Monday, but shares fell 7% in extended trading after the company flagged continued market uncertainty and announced CEO transition.
The company said its Chief Executive Officer Kurt Sievers informed the board of his plans to retire at the end of 2025.
NXP (NASDAQ:NXPI) named Rafael Sotomayor, a longtime executive, as his successor, effective October 28, 2025, after a transition period.
Adjusted earnings per share came in at $2.64 for the quarter ended March 30, beating analysts’ estimates of $2.60. Revenue was $2.84 billion, narrowly topping expectations of $2.83 billion.
For the second quarter, NXP forecast earnings between $2.46 and $2.86 per share and revenue between $2.8 billion and $3 billion.
The midpoint of both ranges was roughly in line with analyst forecasts but reflected continued caution around volatile market conditions and tariff impacts.
Sievers said the results and outlook reflect "cautious optimism" as NXP navigates a "very uncertain environment" influenced by tariffs.