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NXP Semiconductors' Q4'17 net income up YOY

NXP Semiconductors NV said net income attributable to stockholders rose to $753 million, or $2.17 per diluted share, in the fourth quarter of 2017, compared with $520 million, or $1.51 per share, in the same period of 2016.

The company posted an income tax benefit of approximately $747 million due to the recent U.S. tax overhaul.

Revenue edged up 1% to $2.46 billion in the fourth quarter from $2.44 billion in the year-ago period. This was impacted by the divestment of the Standard Products unit in the first quarter of 2017, the company said.

NXP's High Performance Mixed Signal segment booked revenue of $2.35 billion in the quarter, up 14% year over year from $2.06 billion.

Operating income came in at $210 million, compared with $173 million.

For full year 2017, net income jumped to $2.22 billion, compared with $200 million in the prior fiscal year.

Full-year revenue declined approximately 3% to $9.26 billion from $9.50 billion in 2016.

NXP has not provided first-quarter guidance, pending its acquisition by Qualcomm Inc.