Nordic Semiconductor jumps as Q1 revenue tops estimates on broad-based growth

Nordic Semiconductor reported first-quarter revenue of about $192.4 million, topping market expectations and sending shares higher in early trade.

The company said revenue rose roughly 24% from a year earlier, while gross margin improved to about 52%. EBITDA came in at about $21.3 million. Market coverage had pegged analyst expectations at around $188 million, making the result a clear beat.

Nordic Semiconductor said the growth was broad-based, with demand improving across short-range and long-range wireless technologies and across consumer, industrial and healthcare markets.

The company also guided second-quarter revenue to $200 million to $220 million and said it expects gross margin above 50%. That outlook suggests management sees the demand backdrop continuing into the current quarter.

The main takeaway from the report is that Nordic Semiconductor is seeing stronger demand than expected across several end markets at the same time, a sign that the recovery is not limited to one product line or region.