Overview
- The company forecast fourth-quarter revenue of $3.20 billion to $3.40 billion, with the midpoint topping the $3.24 billion LSEG consensus.
- Third-quarter revenue came in at $3.17 billion, slightly ahead of the $3.16 billion estimate.
- Automotive sales, NXP’s largest business, grew 6% sequentially in the quarter, while mobile revenue increased 30%.
- Incoming CEO Rafael Sotomayor said the outlook reflects company-specific growth drivers and signs of a cyclical recovery.
- NXP closed a $243 million purchase of Aviva Links, completed TTTech Auto in June, secured approvals to acquire Kinara, and its shares gained about 2% after hours.