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NXP Semiconductors delivers upbeat outlook as Q2 results top estimates

Investing.com -- NXP Semiconductors , a major supplier of chips to the automotive industry, reported Monday an upbeat outlook on current-quarter revenue after delivering second-quarter results that topped Wall Street estimates.

NXP Semiconductors NV (NASDAQ:NXPI) NV shares were up 1% in after-hours trading following the report.

NXP reported diluted earnings per share of $3.43 on revenue of $3.30 billion. Analysts polled by investing.com anticipated EPS of $3.28 on revenue of $3.21B.

The company, which makes the bulk of its revenue from the automotive industry, saw automotive revenue climb 9% to $1.87B year-on-year in Q2. 

"Our first-half results and guidance for the third quarter underpin our confidence that NXP is successfully navigating through the cyclical downturn in our consumer-exposed businesses," said Kurt Sievers, NXP President and Chief Executive Officer.

For the third quarter, the company guided adjusted EPS in the range of $3.39 to $3.82 on revenue of $3.30B to $3.50B. That compared with estimates for adjusted EPS of $3.42 a share on revenue of $3.31B.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.