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NXP Semiconductors profit misses consensus by 42.4% in fiscal Q2

NXP Semiconductors NV said its normalized net income for the fiscal second quarter ended July 5 was 80 cents per share, compared with the S&P Capital IQ consensus estimate of $1.38 per share.

EPS rose 101.2% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $194.0 million, a gain of 95.7% from $99.1 million in the second quarter ended June 29, 2014.

The normalized profit margin rose to 12.9% from 7.3% in the year-earlier period.

Total revenue grew 11.6% year over year to $1.51 billion from $1.35 billion, and total operating expenses increased 5.8% on an annual basis to $1.17 billion from $1.10 billion.

Reported net income rose 86.9% on an annual basis to $299.2 million, or $1.23 per share, from $160.1 million, or 64 cents per share.