NXP Semiconductors delivers upbeat outlook as Q2 results top estimates
Investing.com — NXP Semiconductors , a major supplier of chips to the automotive industry, reported Monday an upbeat outlook on current-quarter revenue after delivering second-quarter results that topped Wall Street estimates.
NXP Semiconductors NV (NASDAQ:NXPI) NV shares were up 1% in after-hours trading following the report.
NXP reported diluted earnings per share of $3.43 on revenue of $3.30 billion. Analysts polled by investing.com anticipated EPS of $3.28 on revenue of $3.21B.
The company, which makes the bulk of its revenue from the automotive industry, saw automotive revenue climb 9% to $1.87B year-on-year in Q2.
«Our first-half results and guidance for the third quarter underpin our confidence that NXP is successfully navigating through the cyclical downturn in our consumer-exposed businesses,» said Kurt Sievers, NXP President and Chief Executive Officer.
For the third quarter, the company guided adjusted EPS in the range of $3.39 to $3.82 on revenue of $3.30B to $3.50B. That compared with estimates for adjusted EPS of $3.42 a share on revenue of $3.31B.
Read more on investing.com
