Chipmaker NXP forecasts profit above estimates on resilient auto, industrial

Explore stories from Atlantic Canada.

Murphy's Logic and reflections on 45+ years of broadcasting | SaltWire - Chipmaker NXP Semiconductors forecast fourth-quarter profit above Wall Street targets on Monday, expecting a resilient automotive market and stable industrial demand to offset weakness in other key markets.

NXP in September said automotive demand was"pretty good" across all its markets, including China, which contributes about 30% to the chipmaker's total revenue. Revenue at is mobile segment fell 8% on a year-on-year basis in the quarter ended Oct. 1, but it jumped 33% sequentially, indicating a recovery in smartphone demand.

While revenue at its largest segment, automotive, grew 5% in the third quarter, analysts worry chip demand will soon sap after months of hoarding and slowing EV demand.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SaltWire Network /  🏆 45. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

REIT Realty Income raises annual AFFO outlook on higher rental revenueExplore stories from Atlantic Canada.
Read more »

HUNTER: No one should be shocked by soft ride for suspected pedophilesExplore stories from Atlantic Canada.
Read more »

New Brunswick’s Blaine Higgs rules out early election, ending months of uncertaintyExplore stories from Atlantic Canada.
Read more »

New Brunswick wants to return entire 10 cent deposit on beverage containersExplore stories from Atlantic Canada.
Read more »

N.B. to create law to protect frail seniors from violenceExplore stories from Atlantic Canada.
Read more »

Government documents project Liberals' gun buyback to cost nearly $2B, double minister's estimatesExplore stories from Atlantic Canada.
Read more »