Good morning, Austin! It’s earnings time, and NXP Semiconductors, which has a large Austin presence, and Austin-based Q2 Holdings posted second-quarter results this morning. Here’s a look at how they performed.
NXP misses Q2 profit forecasts, beats revenue expectations
NXP Semiconductors NV reported second-quarter net income of $49 million, after reporting a loss in the same period a year ago.
On a per-share basis, the Netherlands-based company said it had a profit of 14 cents. Earnings, adjusted for non-recurring costs and stock option expense, were $1.22 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The chipmaker, which has a significant Austin workforce, posted revenue of $2.2 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.19 billion.
NXP shares have risen 13 percent since the beginning of the year, and the stock has increased 35 percent in the past 12 months.
Q2 Holdings beats Wall Street expectations
Austin-based Q2 Holdings, which sells online banking software, reported a loss of $7.8 million in its second quarter.
The company said it had a loss of 19 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
Q2 posted revenue of $47.6 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $47.2 million.
For the current quarter ending in October, Q2 Holdings said it expects revenue in the range of $49.8 million to $50.2 million. The company expects full-year revenue in the range of $193.8 million to $195 million.
Q2 Holdings shares have increased 28 percent since the beginning of the year. The stock has increased 22 percent in the last 12 months.
News on Open Source is free and unlimited. Access to the rest of 512tech.com comes with an American-Statesman digital subscription, which also includes myStatesman.com and the ePaper edition. Subscribe at statesman.com/subscribe.