By Maria Armental

NXP Semiconductors NV reported results for the quarter and year ended in December, helped by a rebound in mobile and automotive despite an earlier hit tied to the coronavirus pandemic. Here's what you need to know:

PROFIT: Net income for the quarter surged to $309 million from $114 million a year earlier. On a per-share basis, profit was $1.08, up from 40 cents a share. Analysts surveyed by FactSet had expected a profit of 89 cents a share.

REVENUE: Revenue for the quarter rose to $2.51 billion from $2.3 billion a year earlier. Analysts expected $2.46 billion, and the company had projected $2.38 billion to $2.53 billion.

The quarter's results were driven by a 23% increase in mobile revenue as well as industrial & IoT, while automotive saw a 9% increase from the year earlier and a 24% rebound from the previous quarter.

YEAR: The company ended the year at a profit of $52 million on $8.61 billion in revenue, compared with a profit of $243 million and $8.88 billion in revenue a year earlier.

OUTLOOK: This quarter, the company expects $2.48 billion to $2.63 billion in revenue, compared with analysts' projected $2.33 billion.

PANDEMIC: "During the first half of the year, NXP was faced with the unprecedented shut down of our customers in most end markets and geographies because of the global pandemic," Chief Executive Kurt Sievers said in a statement, adding, "As we entered the second half of 2020, and our customers began to re-open, NXP experienced a very robust rebound in demand, which we anticipate continuing throughout 2021."

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

02-01-21 1655ET