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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Chipmaker NXP forecasts profit above estimates on resilient auto and industrial

A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. on January 4, 2015. REUTERS/Steve Marcus/File Photo
A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Elec... A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. on January 4, 2015. REUTERS/Steve Marcus/File Photo
A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. on January 4, 2015. REUTERS/Steve Marcus/File Photo
A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Elec... A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. on January 4, 2015. REUTERS/Steve Marcus/File Photo

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Chipmaker NXP forecasts profit above estimates on resilient auto and industrial. NXP Semiconductors (NXPI.O), a chipmaker, predicted fourth-quarter earnings above Wall Street estimates on Monday, citing strength in the industrial and automotive businesses to counteract declines in other vital areas.

The business has also been passing on growing expenses to its clients—aside from distributors—to preserve its earnings.

In September, NXP stated that demand for automobiles was “pretty good” in all of its countries, including China, which accounts for around 30% of the chipmaker’s overall sales.

Strong demand for iPhones is also good news for NXP. This company manufactures a near-field communications semiconductor used in smartphones to provide mobile payments and other features. According to analysts, Apple (AAPL.O) is a significant NXP client.

In the quarter that concluded on October 1, revenue in the mobile division decreased 8% year over year but increased 33% sequentially, suggesting a rebound in smartphone demand.

The company’s communication infrastructure division, according to NXP CEO Kurt Sievers, did “slightly below expectations” in the third quarter.

Although sales in its most significant segment—automotive—grew by 5% in the third quarter, experts are concerned that months of hoarding and sluggish EV demand may eventually deplete chip demand.

According to LSEG statistics, the business predicted adjusted current quarter sales between $3.30 billion and $3.50 billion, versus the $3.43 billion analysts had expected.

For the same period, it projected adjusted earnings per share to range from $3.44 to $3.86. Forecasters anticipate $3.61 per share.

In contrast to projections of $3.40 billion, revenue for the third quarter came in at $3.43 billion. NXP made $3.70 per share after deducting adjustments, which surpassed predictions of $3.59. Following the bell, trade on the Nasdaq saw a 1% increase in the company’s shares based in Eindhoven, Netherlands.


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