NXP Semiconductors forecasts strong quarterly results
NXP Semiconductors forecast second-quarter revenue and profit above Wall Street expectations on Tuesday, betting on an ongoing recovery in the industrial and automotive chip markets to boost revenue, sending its shares up 15% in extended trading.
NXP derives most of its revenue from the automotive and industrial markets, where new orders are on the uptick after a prolonged slump as end-market customers clear out excess inventory built up during the pandemic.
