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NXP Semiconductors (NASDAQ:NXPI) shares were flat after-hours Monday after mixed third-quarter earnings and lackluster guidance.
The semiconductor maker’s revenue jumped 20% from last year to $3.45 billion, topping the midpoint of the company’s guidance and the consensus of $3.43 billion.
On the bottom line, GAAP EPS was $2.79, which may not compare to the consensus of $3.66.
“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 ahead, while we continue to be supply constrained, we are cautious in the intermediate term, due to the uncertainties in the macro environment,” said CEO Kurt Sievers.
Looking ahead, NXP sees fourth-quarter revenue of $3.2-$3.4 billion, or $3.3 billion at the mid-point, versus the consensus of $3.41 billion.
