Auto chip maker NXP tops expectations ahead of Texas Instruments earnings

NXP Semiconductors N.V. shares rose in the extended session Monday after the chip maker — which gets more than half its sales from auto makers — topped Wall Street expectations.NXP NXPI shares rose as much as 3% after hours, following a 1.1% decline to... NXP Semiconductors N.V. shares rose in the extended session Monday after the chip maker — which gets more than half its sales from auto makers — topped Wall Street expectations.NXP NXPI shares rose as much as 3% after hours, following a 1.

“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’s chief executive, in a statement. “At the same time, we see continued strength in our automotive, core-industrial and communications infrastructure businesses.”

Revenue declined to $3.3 billion from $3.31 billion in the year-ago quarter, as auto chip sales rose 9% to $1.87 billion from a year ago.

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