NXP Semiconductors (NXPI) Trades Flat Following Mixed Q3 Performance, Outlook
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NXP Semiconductors Reports Third Quarter 2022 Results
October 31, 2022 4:01 PM EDTEINDHOVEN, The Netherlands, Oct. 31, 2022 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the third quarter, ended October 2, 2022.
NXP delivered quarterly revenue of $3.45 billion, an increase of 20 percent year-on-year and above the mid-point of our guidance range. Overall in the third quarter, we performed very well; however, we were impacted by the weakening macro-environment in our consumer-exposed IoT business. At the same time, demand in both the automotive and industrial markets continues to be resilient, driven by secular and company-specific drivers, along with incrementally improved supply. Looking... More
