By Yasin Ebrahim
Investing.com - NXP (NASDAQ:NXPI) reported on Monday second-quarter earnings that missed, but revenue that topped expectations amid ongoing supply chain issues.
NXP shares gained 0.43% in after-hours trade following the report.
NXP announced earnings per share of $1.42 on revenue of $2.60 billion. Analysts polled by Investing.com anticipated EPS of $2.31 on revenue of $2.58 billion.
Automotive, the company's largest business, reported a 87% rise in sales year-on-year.
For the third quarter, NXP guided revenue in the range of $2.775 billion to $2.925 billion, above expectations for $2.7 billion despite supply chain issues that are expected to continue.
"We continue to be very positive about the long-term demand trends across all our end markets, and while the supply environment will remain challenging in the near term we have taken actions to increase supply which underpin our confidence to drive very robust growth for the remainder of 2021, as well as into 2022," the company said.