Day: November 2, 2021

NXP Gives Bullish Outlook on Effort to Boost Chip Supply

(Bloomberg) — NXP Semiconductors NV, a major chip supplier to the automotive industry, gave a bullish revenue forecast for the current period.

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The Dutch company said fourth-quarter revenue will be $2.93 billion (2.5 billion euros) to $3.08 billion as global chip shortages continue to drive sales. That compares with the $2.91 billion average estimate from analysts surveyed by Bloomberg.

“We continue to take additional actions to assure supply to our customers, which underpins our continued confidence in robust growth in the remainder of 2021 and through 2022,” Chief Executive Officer Kurt Sievers said Monday in a statement.

Key Insights

  • NXP reported third-quarter revenue of $2.9 billion, up 26% from a year earlier.

  • Sievers said in April that supply would likely remain tight for the remainder of 2021 with a constraint in auto chips lasting until 2022.

  • The gap between putting in a semiconductor order and taking

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