The Zhitong Finance App learned that on Wednesday, NXP (NXPI.US) opened and fell nearly 6%. As of press time, the decline had narrowed to about 5%. According to the news, NXP Semiconductors handed over a third-quarter earnings report with record revenue and profit, but the company's fourth-quarter revenue guidance fell slightly short of expectations. NXP's third-quarter earnings report showed that revenue for the quarter was US$3.786 billion, up 19% year on year, higher than the market's agreed expectations; non-GAAP diluted earnings per share of US$4.20, up 35% year on year, also exceeded expectations. Non-GAAP gross margin of 58.6%, operating margin of 37.1%; free cash flow for the quarter was US$1.21 billion, accounting for 31.9% of revenue. The company expects fourth-quarter revenue of US$3.75 billion to US$3.95 billion, with a median value of US$3.85 billion (up about 15% year over year), which is lower than analysts' expectations of US$3.87 billion; median non-GAAP operating profit of US$1.44 billion is also slightly lower than expected.
Jefferies's review was representative: the results and guidelines “generally met” expectations. However, compared to the stronger prospects of other chip makers, its performance was “disappointing.” The most direct frame of reference is Texas Instruments. Last week, the analog chip leader gave strong revenue forecasts, saying the industrial, automotive, and data center sectors will see extensive growth and plans to expand production capacity to meet order demand. The two companies' statements on demand visibility are divided, and the market is betting its weight on the more optimistic side.
A deeper divide lies in the pace of recovery in automotive semiconductors. Some analysts suggest that the substantial recovery in demand for automotive chips may be delayed until 2027, rather than accelerated in the second half of 2026. NXP itself predicted double-digit revenue growth and 60% gross margin for 2027, but according to some investors, this growth rate forecast itself already implied a milder recovery slope than before.