NXP Semi inadvertently re-releases Sept. guidance
NEW YORK (AP) — Dutch chip maker NXP Semiconductors on Friday inadvertently re-released a statement narrowing its third-quarter adjusted earnings and revenue forecasts.
The company originally said on Sept. 13 that it anticipates adjusted earnings between 53 cents and 59 cents per share. Its prior guidance, issued July 24, was for 50 cents to 62 cents per share.
Analysts currently expect third-quarter earnings of 56 cents per share, according to FactSet, with estimates ranging from 55 cents to 58 cents. That is unchanged from Wall Street's forecast on Sept. 13.
NXP also revised its quarterly revenue outlook in September. The company foresees revenue rising about 6 percent to 8 percent. On July 24, it had predicted a 4 percent to 10 percent increase.
The release also included a narrower product revenue outlook. The company expects product revenue to rise 8 percent to 10 percent sequentially. The July forecast was for 6 percent to 12 percent growth.
NXP's chips are used in a wide range of products, from automobiles to wireless infrastructure equipment to TV sets. The company is slated to release its third-quarter results on Oct. 25.
Shares of NXP Semiconductors NV gained 90 cents, or 3.7 percent, to $25.45 in afternoon trading on Friday.