Reported 21 days ago
NXP Semiconductors experienced its largest decline in over three months after revealing a disappointing fourth-quarter forecast, largely driven by a slowdown in automotive sales and weak industrial demand. The company projects fourth-quarter revenue of $3 to $3.2 billion, falling short of analyst expectations, while its automotive segment reported a 3% sales drop compared to the previous year. Analysts noted that the ongoing industrial weakness and cautious consumer behavior, particularly in the U.S. and Europe, further contributed to the grim outlook.
Source: YAHOO