NXP Semiconductor shares dropped 7.7% pre-market due to a lower-than-expected Q3 revenue forecast.
NXP Semiconductor shares fell 7.7% pre-market due to a lower-than-expected Q3 revenue forecast, amid slowed demand from automotive customers and rising geopolitical tensions. The company's customer base includes Apple, Bosch, Dell, Ericsson, Flextronics, Foxconn, and others. Q3 revenue is expected to be $3.15-$3.35bn, with EPS projected to be $3.21-$3.63. Shares recently traded at $261.81, down from $283.81 the previous day.
July 22, 2024
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