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Chipmaker NXP forecasts profit above estimates on resilient auto, industrial

November 7, 2023
Source: reuters.com reuters.com
News Snapshot:
A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. on January 4, 2015. REUTERS/Steve Marcus/File Photo Acquire Licensing Rights Nov 6 (Reuters) - Chipmaker NXP Semiconductors (NXPI.O) forecast fourth-quarter profit above Wall Street targets on Monday, expecting a resilient automotive market and stable industrial demand to offset weakness in other key markets. To protect its profits, the company has also been passing on rising costs to its customers, excluding distributors. NXP in September said automotive demand was "pretty good" across...
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