Nxp Semiconductors N.V. (NXPI)

[MisterEC]

I saw on CNBC NXP is going to open 15% lower.



NXP posts mixed results, issues soft guidance

Oct 28 2015, 22:57 ET | About: NXP Semiconductors (NXPI) | By: Eric Jhonsa, SA News Editor

NXP Semiconductors (NASDAQ:NXPI): Q3 EPS of $1.57 beats by $0.02.

Revenue of $1.52B (flat Y/Y) misses by $30M.

Expects Q4 revenue to be down by a low-to-upper teens % Q/Q. Implies revenue will be below a $1.58B consensus.

Management's commentary: "As we entered the third quarter, we noted a weakening of demand as our customers began to communicate concerns with an uncertain economic environment. As the third quarter progressed, our end-customers, across multiple end-markets continued to voice an increased and significant degree of uncertainty around any increase in demand. This has resulted in lower than planned sell-through and an increase of channel inventory. As a result, our guidance for the fourth quarter reflects a much more cautious view of near term sales which may occur during the quarter."

Shares finished after hours trading up 1%. NXP reported earnings shortly following the end of after hours trading.