US Stock Market Move | NXP Semiconductors NV (NXPI.US) soared more than 25% as Q1 results exceeded expectations. The Q2 performance guidance is strong.

On Wednesday, NXP Semiconductors NV (NXPI.US) surged over 25%, reaching a record high of $288.25. The financial report showed that NXP Semiconductors NV's revenue in the first quarter increased by 12% year-on-year to $3.18 billion, surpassing analysts' average expectation of $3.15 billion. Net profit surged 129% year-on-year from $490 million in the same period last year (equivalent to $1.92 per share) to $1.12 billion (equivalent to $4.43 per share). Excluding one-time items, adjusted earnings per share were $3.05, also exceeding the market expectation of $2.98. NXP Semiconductors NV expects revenue in the second quarter to be between $3.35 billion and $3.55 billion, significantly higher than analysts' estimate of $3.27 billion. Adjusted earnings per share are expected to be between $3.29 and $3.72, significantly better than the market expectation of $3.21. The adjusted gross margin is expected to be between 57.5% and 58.5%, slightly lower than analysts' expectation of 57.6%.