NXP is still battling weak global demand. Third-quarter revenue of 2.3 billion dollars was up 2 percent sequentially, but down 7 percent compared to Q3 2018. The operating profit of 687 million dollars was also down year-on-year. Those results are better than the company predicted three months ago, however.
“In the short term, the global demand environment appears to have stabilized but the intermediate demand environment continues to be uncertain and has not markedly improved,” said Richard Clemmer, NXP’s CEO. Looking forward, the company expects the fourth quarter to be marginally better, projecting a -1 to 2 percent sequential increase of revenue and a 7 to 4 percent year-on-year decrease.