NXP reported that fourth-quarter revenue was $2.5 billion, up 9% year-on-year. Fourth-quarter GAAP gross margin was 51.4%, while GAAP operating margin was 18.5%. Full-year cash flow from operations was $2,482 million, with net capex investments of $388 million, resulting in non-GAAP free cash flow of $2,094 million.
“NXP delivered full-year revenue of $8.6 billion, with 2020 being best characterized as two halves with completely different business trends,” said Kurt Sievers, NXP president and CEO. “During the first half of the year, NXP was faced with the unprecedented shut down of our customers in most end markets and geographies because of the global pandemic. As we entered the second half of 2020, and our customers began to re-open, NXP experienced a very robust rebound in demand, which we anticipate continuing throughout 2021. In the fourth quarter, revenue was $2.5 billion, an increase of 9% year-on-year, and near the upper end of our guidance range. During this time, we experienced especially strong trends in the Automotive and Mobile end-markets.”