NXP forecasts upbeat quarterly revenue on recovery in demand
NXP Semiconductors NV forecast fourth-quarter revenue above Wall Street estimates on Monday, as it recovers from sluggish demand and sees a rebound in the automotive segment.
Shares of the Eindhoven, Netherlands-based company rose 2% in U.S. extended trading, having gained 6.6% so far this year.
The chipmaker is benefiting from momentum across automotive end markets due to demand for its scalable processing solutions.
