NXP Semiconductors (NXPI, Financials) shares fell 6% in early post-market trading Monday after the company reported a weaker-than-expected fourth-quarter outlook, citing broad macroeconomic challenges in Europe and the Americas; NVIDIA Corp. (NVDA, Financials), the industry leader remained unmoved by all of this, closing at $136.05 on Nov. 4, up 0.48%. On last look, NVDA is not showing any signs the issue is affecting sentiment in pre-market trading.
Monday after markets closed, the semiconductor maker with headquarters in the Netherlands published third-quarter 2024 financial results. With adjusted earnings per share of $3.45, NXP was somewhat above the consensus forecast of $3.43. At $3.25 billion, quarter's revenue matched estimates.
With a midpoint of $3.13, much below analysts' projection of $3.62, NXP expects adjusted earnings per share between $2.93 and $3.33 looking ahead to the current quarter. Missing the consensus expectation of $3.36 billion, the company also expects fourth-quarter income between $3 billion and $3.2 billion.
"Our guidance for the fourth quarter reflects broader macro weakness, especially in Europe and the Americas," NXP Chief Executive Kurt Sievers said. "We focus on managing what is in our control, enabling NXP to drive resilient profitability and earnings in an uncertain demand environment."
To go over its results and perspective, NXP intends to have a conference call on Tuesday, Nov. 5.
