NXP Semiconductors announces third-quarter 2024 financial results, with fourth-quarter forecasts below market expectations

NXP Semiconductors, a major automotive chip manufacturer, announced its third-quarter 2024 financial report on November 4, and all performance results were basically in line with expectations. However, the fourth-quarter financial forecast was lower than market expectations, causing its stock price to fall by more than 8% on November 5, and still fell 5.17% to $224.65 at the close. NXP's third-quarter revenue was $3.25 billion, down 5% year-on-year and up 4% month-on-month, in line with market expectations.