NXP Semiconductors Gives Bullish Forecast on Industrial and Auto Market Demand

NXP Semiconductors NV, the second-biggest supplier of chips to the automotive industry, gave a strong forecast for the current quarter driven by demand for components used in cars.

Third-quarter revenue will be $3.35 billion to $3.5 billion, NXP said Monday in a statement. That compares with an average analyst estimate of $3.32 billion. Gross margin, or the percentage of sales remaining after deducting the cost of production, will be as high as 58.3%. Analysts has projected a margin of 57.6%.