NXP Gives Disappointing Sales Forecast as Chip Slump Lingers
An integrated circuit microchip manufactured by NXP Semiconductors.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
NXP Semiconductors NV gave a disappointing forecast for first-quarter revenue, signaling that sluggish demand for industrial and automotive chips is lingering.
Revenue will decline about 10% to $2.83 billion in the period, the Dutch semiconductor company said in a statement on Monday. That compares with a $2.92 billion average estimate from analysts surveyed by Bloomberg.