NXP Semiconductors, the second-biggest supplier of chips to the automotive industry, gave a strong forecast for the current quarter driven by demand for components used in light vehicles.
Third-quarter revenue will be $3.35 billion to $3.5 billion, NXP said Monday in a statement. That compares with an average analyst estimate of $3.32 billion. Gross margin, or the percentage of sales remaining after deducting the cost of production, will be as high as 58.3 percent. Analysts has projected a margin of 57.6 percent.
NXP is completely sold out through the end of 2022, CEO Kurt Sievers told Bloomberg on Tuesday. The company is “very cautious” with regards to high inflation, COVID-19 lockdowns in China, the war in Ukraine and a possible energy crisis, he said.