NXP Semiconductors is a global leader in providing innovative semiconductor solutions for Automotive, Industrial & IoT applications. The company posted strong financial results for the year ended December 31st, 2022, with revenues increasing by 47% to $13.20 billion and net income more than doubling to $2.83 billion. Gross profit margin expanded significantly to 57%, while operating expenses as a percentage of sales declined slightly to 21%. Income before taxes grew even faster than revenues, rising by 48% to $3.36 billion.

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