(AOF) – Semiconductor manufacturer NXP presented stronger-than-expected accounts and a higher-than-expected earnings per share target. In the third quarter, it generated a net profit of $787 million, or $3.01, compared with a net profit of $698 million, or $2.67, a year earlier. Adjusted for exceptional items, earnings per share came to $3.70, 9 cents better than consensus. Revenue fell 0.3% to $3.43 billion while the market was targeting $3.40 billion.
“Revenues in our Mobile, Industrial & IoT and Automotive end markets were all in line with or above forecasts, while our Communications Infrastructure and Other end markets were slightly below our expectations,” commented CEO Kurt Sievers.
For the fourth half, NXP is targeting on average revenue of $3.4 billion and adjusted earnings per share of $3.65.
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