NXP (NXPI.US) falls over 6% as Q4 earnings outlook misses expectations

NXP Semiconductors (NXPI.US) shares fell on Tuesday, down over 6% at the time of writing to $22.43. The news came after NXP reported its third-quarter results, with revenue down 5.4% year-on-year to $3.25 billion, slightly below analysts' expectations of $3.26 billion; adjusted EPS of $3.45, compared to $3.7 in the same period last year, and in line with analysts' expectations of $3.42. The automotive chip segment's revenue was down 3% year-on-year to $1.829 billion. For the fourth quarter, the company expects revenue to be between $3 billion and $3.2 billion, meaning a decline of 6 to 12% year-on-year, compared to analysts' expectations of $3.36 billion; adjusted EPS is expected to be between $2.93 and $3.33, compared to analysts' expectations of $3.62. In the earnings statement, NXP Semiconductors' CEO said: "Our outlook for the fourth quarter reflects the broader macro weakness, particularly in Europe and the Americas."